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My Choice (ISA)

Everyone has the right to more than one ISA

Investment ISA, from just £10 per month.

New car? House deposit? Family holiday? Whatever your dream, Scottish Friendly’s My Choice (ISA) could help towards making it come true. You can start investing from just £10 a month.

My Choice (ISA) lets you use the long term growth potential of the stock market to invest what you can afford for whatever you want.

The table below provides all the plan detail and things you should consider. For more information on My Choice (ISA) please visit 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.
  • Once you have set up My Choice (ISA) 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 Funds 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 Investment ISA like the My Choice (ISA), one Innovative Finance ISA, plus one Cash ISA with another ISA manager in the current tax year, up to the current limit of £15,240. You can have as many policies as you like within your Investment ISA provided you do not exceed the annual ISA limit.
  • The My Choice (ISA) is available to adults aged 18 or over who are resident in the UK.
 

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 financial future

At Scottish Friendly, we want to help you enjoy the future. That’s why My Choice (ISA) is designed to get you into a saving and investing habit. From just £10 a month, you could put it towards anything from a dream holiday to a new car.

Invest as little as £10 per month tax-free with My Choice ISA

A tax-free way to put money aside

Scottish Friendly’s My Choice (ISA) is an Investment ISA (also known as a Stocks and Shares ISA). It puts your money to work using the long-term growth potential of the stock market. Anyone who’s over 18 and a UK resident can have one. You don’t pay income tax or capital gains tax on any growth on your investment other than the tax that has already been paid (such as dividends from UK companies). Although bear in mind that tax treatment is dependent on individual circumstances, and that tax laws could change in the future. Stock market investments can go down as well as up and you could get back less than you have paid in.


Make the most of your ISA allowance

The current tax-free ISA allowance means that you can put a total of £15,240 into a My Choice (ISA) in the current tax year, minus any amount you have invested in your Cash ISA or (from 6 April) Innovative Finance ISA with another ISA manager.


How much you invest is up to you

With My Choice (ISA), you choose exactly how much to invest. You can put away as little as £10 a month or a lump sum of £100 or more. You can also transfer in an existing Investment ISA or Cash ISA from another provider. If you like, you can lower, raise, stop and restart the amount you’re paying in at anytime — although if you’re aiming to grow your investment for a specific goal, pausing your payments will take you longer to reach it.

You can also automatically raise your payments by an agreed amount every year — e.g. 2.5%, 5% or 10%. This is known as your yearly payment increase rate

The tool below lets you see the effect on your monthly premium each year over a 10 year period. Remember your monthly premium will continue to increase past year 10, however you have the option to change the yearly payment increase rate at any time.

 

Complete control

My Choice (ISA) is a long-term investment (by long-term we mean 5 years, or even better 10 years). However, with My Choice (ISA) you're in complete control of your investment.

If your circumstances change, you can take out your money whenever you want with no charges or penalties.

My Choice (ISA) also offers a choice of funds so you can select the ones that suit your needs best.


Open a Scottish Friendly My Choice (ISA)

Opening a My Choice (ISA) with Scottish Friendly is simple.

Before you apply, make sure you’ve read the Key Features. Then you’re ready to apply online.

Once you've applied, we suggest printing or saving a copy of this page, 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

My Choice (ISA) 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 (ISA) 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

Apply Online>

What might I get back from my policy?

When you start a My Choice (ISA), 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.

Select a fund from the drop down menu, below, use the sliders and click Calculate to see what you might get back for each fund available within a My Choice (ISA).

 

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

Apply Online>