Add a policy to your existing ISA

Add another policy to your Scottish Friendly ISA

Our ISA has a special feature - you can split your investment into as many pots as you like to help keep track of your financial goals

We all have financial goals which we need to put money aside for. For example, you may want to invest some money for a house deposit, a new car or even your children’s future.

Whatever your goal, adding a My Choice policy to within your existing ISA could help you reach it.

The table below shows a summary of the policy and there’s more information, including how to apply, on the detail tab.

Investment features What you need to consider
  • Invest tax-free using your Investment ISA allowance from just £10 a month, lump sums from £100 or a combination of both.
  • You can cash in or raise, lower, stop and restart payments at any time.
  • Your money will be invested in a My Choice policy within a Scottish Friendly ISA which invests in your choice of funds. For more information see the Fund tab.
  • The value of your investment can go down as well as up, so you could get back less than you have paid in.
  • You should consider this a medium to long-term investment for a period of at least five years.

Tax Information

Tax Information
  • Tax treatment depends on individual circumstances. Tax law may change in the future.
  • Tax-free means the policy grows free of income and capital gains tax (other than tax that's already paid, i.e. on dividends from UK shares).
  • You can have one Cash ISA, one Innovative Finance ISA, plus one Investment ISA in each tax year. You can have as many policies as you like within your Investment ISA provided you do not exceed the annual ISA limit.
  • To apply you must be a UK resident aged 18 or over.
 

No advice has been provided by Scottish Friendly in relation to this plan. If you are in any doubt as to whether this plan is suitable for you, you should contact a financial adviser for advice. If you do not have a financial adviser, you can get details of local financial advisers by visiting www.unbiased.co.uk. Advisers may charge for providing such advice and should confirm any cost beforehand.


Invest towards your future goals

At Scottish Friendly, we want to help you prepare for the future. That's why with a Scottish Friendly ISA you can keep track of your goals by splitting it into different policies (which we like to call 'pots'). You can give each pot a name, for example family holiday, uni fund or house deposit.

As long as you stay within your annual ISA allowance, you can add as many pots as you like for whatever future savings goal you choose.


Add another pot from £10 a month or £100 lump sum

When you add another pot you can choose to pay monthly by Direct Debit, a lump sum or a combination of both.

Monthly payments start from only £10 to keep it affordable, and you can make lump sums of £100 and up. That's provided your contributions, current investments already made into your Scottish Friendly ISA, and any savings paid into a Cash ISA or Innovative Finance ISA with another ISA Manager, do not exceed your annual £15,240 ISA allowance.


Protect your investment from the taxman

A My Choice policy sits within your existing Scottish Friendly ISA. This means it’s sheltered from the taxman. You won't have to pay income tax or capital gains tax on any growth on your investment (other than tax on dividends from UK shares). Keep in mind that tax treatment depends on individual circumstances and tax law may change in the future.


Flexible payment options to suit you

Don't worry about being locked into your initial payments. Your policy has the option to raise or lower the amount you invest at any time. If you'd like to take a break, that's okay too - just re-start when you're ready.

Of course, if you're investing for a specific goal, then stopping your payments will mean it takes you longer to reach it. That's why it's best to think about your My Choice policy as money that you'll leave alone for at least 5 years, and 10 years if you can. But it’s there if you need it. If your circumstances change, you can take out your money whenever you want with no charges or penalties.

Remember, the value of investments can go down as well as up and you could get back less than you've paid in.


Getting started is simple

Adding another pot to your existing Scottish Friendly ISA is straight forward. First, please make sure you have read and understood the Key Features. Then you’re ready to apply online.

  • If you’re already registered for our My Plans service, simply login when you select to apply. Don’t worry if you’ve forgotten your login details, we can help you to retrieve them.
  • Alternatively, simply apply as normal and we’ll make sure to add your new policy to your existing ISA.

Our application form will guide you through the rest of the process. If you need a helping hand with anything, or would like any further information before applying please contact us on 0333 323 5433.

If you apply we suggest printing or saving a copy of this page along with other relevant web pages and the Key Features. That way, they will always be handy should you need to refer to them.

Apply Online>

Your choice of investment funds

A My Choice policy puts you in control of your investment. We offer a range of funds so you can choose the ones that suit your needs best.

Remember though no matter which fund or funds you select, the value of the My Choice policy can go down as well as up and your original investment is not guaranteed, other than a 10 year continuous investment in the Unitised With Profits fund.


How the funds compare

The funds available to you have a range of objectives and risk and reward profiles. Some funds invest in particular sectors such as UK Government Bonds or the UK Stock market. Others invest in a mix of assets some of which are specifically risk and return graded to help you match your own risk and reward profile to your choice of investment fund.

You can find much more information on each of these funds below but the diagram below lets you see how we expect the funds to compare against one another in terms of expected risk and return.

Low expected
risk & return

 

High expected
risk & return

 

For more information on our how much your investment could be worth in the future within each of the funds, please click on the How your money could grow tab.


Funds

Further information on each of the funds can be found below.

  • UK Tracker fund

    UK Tracker fund benefits What you need to consider
    • A higher risk and reward investment linked to an index of the UK stock market. It is designed to link to well known high street brands and companies listed in the UK.
    • Give your money the long term growth potential of the UK stock market.
    • Your cash in value can rise and fall on a daily basis and you could get back less than you have paid in.
    • The fund's performance will be mainly dependent on the movement in the UK stock market.
  • UK Active fund

    UK Active fund benefits Things you should consider
    • A higher risk and reward investment linked to an actively managed investment in UK stocks and shares.
    • Give your money the long term growth potential of the UK stock market, where stocks and shares are selected by an expert fund manager who will aim to outperform the market.
    • Your cash in value can rise and fall on a daily basis and you could get back less than you have paid in.
    • Your fund's performance will largely depend on the movement in the UK stock market but will also be dependent on the ability of the fund manager to select stocks and shares that grow.
  • UK Government Bond fund

    UK Government Bond fund benefits What you need to consider
    • A lower risk and reward investment linked to an index of bonds issued by the UK Government.
    • Give your money the growth potential and security of long term bonds issued by the UK Government.
    • Your cash in value can rise and fall on a daily basis and you could get back less than you have paid in.
    • Your fund's performance will mainly depend on the credit worthiness of the UK Government and the movement in long term interest rates which can raise and lower the value of bonds held in the fund.
  • International Company Bond fund

    International Company Bond fund benefits What you need to consider
    • A medium risk and reward investment linked to a portfolio of bonds issued by companies throughout the world, selected by an expert fund manager.
    • Give your money the growth potential and security of long term bonds issued by companies throughout the world.
    • Your cash in value can rise and fall on a daily basis and you could get back less than you have paid in.
    • Your fund's performance will depend on the credit worthiness of the company bonds purchased by the fund manager, the movement in long term interest rates and the movement in currency exchange rates.
  • Unitised With-Profits fund

    Unitised With Profits fund benefits What you need to consider
    • The Unitised With-Profits Fund is linked to a cautiously managed portfolio of stock market, property, cash and bond assets.
    • Provided you haven't made any withdrawals or switched out of the fund, if you cash in only on the 10th anniversary of your continuous investment in the Unitised With-Profits fund you will receive a guaranteed cash sum of at least as much as you have invested less your policy charges.
    • When you cash in, switch out or take a withdrawal from the Unitised With-Profits fund you will receive a value which is in line with the performance of the assets within the fund. This is done by adding a final bonus or deducting a market value reduction.
    • No market value reduction can apply on the 10 year anniversary of your continuous investment in the Unitised With-Profits fund which provides your guaranteed value.
    • Continuous investment means you have maintained at least one full unit in the Unitised With-Profits fund and is measured from the first day you invest.
  • Higher fund

    Higher fund benefits What you need to consider
    • A higher risk and reward investment linked to a managed basket of assets with emphasis on higher long term expected return assets such as the stock market.
    • Higher longer term growth potential than a cash based investment and better potential than the Lower fund or Medium fund.
    • Your cash in value can rise and fall on a daily basis and you could get back less than you have paid in.
    • The fund contains a higher degree of risk than an investment in the Lower or Medium fund which means that it is likely to experience greater price rises and falls than the Lower or Medium fund.
    • The actual risk and return of the fund will depend on Scottish Friendly's ability to efficiently allocate investments to meet the risk profile of the fund.
  • Medium fund

    Medium fund benefits What you need to consider
    • An investment linked to a managed basket of assets designed which tends to favour assets such as the stock market and property which have greater levels of potential risk and return.
    • Greater longer term growth potential than a cash based investment and better potential then the Lower fund but less than that of the Higher fund.
    • Your cash in value can rise and fall on a daily basis and you could get back less than you have paid in.
    • The fund contains a greater level of risk than the Lower fund but less than the Higher fund. This means that the Medium Fund is likely to experience greater levels of price rises and falls than the Lower fund.
    • The actual risk and return of the fund will depend on Scottish Friendly's ability to efficiently allocate investments to meet the risk profile of the fund.
  • Lower fund

    Lower fund benefits What you need to consider
    • A lower risk and reward investment linked to a managed basket of assets with emphasis on safer assets such as bonds and cash.
    • Greater longer term growth potential than a cash based investment.
    • Your cash in value can rise and fall on a daily basis and you could get back less than you have paid in.
    • Whilst the fund contains an element of risk it is lower than that of the Higher or Medium fund. This means that the fund is likely to experience a lesser level of price rises and falls than the Higher or Medium Fund.
    • The actual risk and return of the fund will depend on Scottish Friendly's ability to efficiently allocate investments to meet the risk profile of the fund.
  • Guaranteed Cash fund

    Guaranteed Cash fund benefits What you need to consider
    • A guarantee from Scottish Friendly that the amount you invest in the fund will not fall over any period of time.
    • A short term home for your money if you wish to remove risk from your investment during periods of market instability or whilst you select an appropriate fund(s) to invest in.
    • The growth potential on the fund is likely to be small due to the effect of charges and the low risk profile of the fund.
    • The fund is not a suitable long term investment due to its low growth rate potential.

Start now from just £10 a month or a £100 lump sum

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What might I get back from my policy?

When you add another pot, your money will be invested in a My Choice policy within a Scottish Friendly ISA, which will then invest in your choice of fund(s).

Because your investment is linked to the stock market, it’s impossible to tell you the exact return you may get in the future — but we can give you a rough idea.

If you are wishing to make a lump sum investment you can see an example of what you might get back in the Key Features.

Use our handy tool below to see what you might get back for each fund available within a My Choice policy.

 

Start now from just £10 a month or a £100 lump sum

Apply Online>