So how does it all work?
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Saving simply for your future
Saving for your future doesn't have to cost much. In fact, you can decide to save any amount between £26 and £260 a month, that's £6 - £60 per week. You can pay your contributions monthly by direct debit from your bank. Or better still, to help with budgeting, if you are a Royal Mail employee, or your employer allows, you can pay contributions weekly or monthly through deductions from your pay. What could be simpler!
Available to everyone aged between 16 and 74 years old, our Savings and Investment Plan is designed for savers who are already investing £25 per month into a tax exempt savings plan and have already looked at maximising their tax efficient savings allowances.
The maximum total amount you can save into POIS Savings and Investment Plans is £260 per month.
A cash sum when you want it
The Savings and Investment Plan is a 10 years savings plan and provides a number of options at the end of the 10 years to give you flexibility and help ensure you're not tied to saving for too long, just in case your circumstances change.
At the end of the 10 years you can:
You can use the money from your plan for whatever you want; a holiday of a lifetime, buying a new car, caravan or helping towards purchasing a holiday home. You might even use it to do those home improvements you've always dreamed of. If you take out the plan to save for a child's future, you'll also benefit from knowing the money from the plan will be paid to you, so you can help to decide what it is spent on.
The potential for growth
The contributions you make will be invested in the POIS Savings Fund, which aims to provide good potential for growth over the longer term, by investing in stocks and shares. It invests in UK shares individually chosen by the fund manager to provide long-term growth opportunities whilst managing risk through selecting shares across different sectors and by size of company.
Please Note: The Savings and Investment Plan is not designed to be a short term savings plan. As the contributions you make are invested in a fund which holds assets including stocks and shares that can vary in price from day to day, the value of the plan may fall as well as rise and you may get back less than you have paid in. Inflation will reduce what you can buy in the future with the money paid into the plan.
For more information about the different types of investments and the POIS Savings Fund please see our Fund Information.
In-built life cover
One benefit of the Savings and Investment Plan is that life cover is automatically included at no additional cost to you. Provided you keep paying your contributions, if you die, a nominated beneficiary can receive this cash sum or the value of the plan, if this is higher. The amount of life cover is based on the size of contribution you pay, so your personal illustration will let you know how much this is.
Extra benefits at no additional cost
By becoming a plan holder, you automatically become a member of Foresters Friendly Society, which gives you access to a range of brilliant extras that can provide you with support and assistance when you need it.
A Personal Nurse Adviser - practical help and emotional support is available for any member with a serious health condition.
Financial grants for education and health care - we offer a number of discretionaryfinancial grants for members who need support with things like higher education, dental care or convalescence.
The membership benefits we provide aren't regulated by the Financial Conduct Authority or the Prudential Regulation Authority and are regularly reviewed by us to ensure they are relevant to our members.
Find out more about the Extra benefits available on Foresters Friendly Society's website.
Before applying for the Savings and Investment Plan, please read the Key Information Document and Important Information which explain how the plan works, its aims, the commitment you will need to make and the risks involved. It will help you decide if it's suitable for you.
If you have any questions, please contact us on 0800 622 417 or at email@example.com.