We can serve you a
My Prosperity (ISA)
Guaranteed cash lump sum on your 10 year anniversary
From an affordable £10 a month
Your money could grow in an Investment ISA with Scottish Friendly.
If you cash in on the 10th anniversary of the start date of your investment you are guaranteed to get back at least as much as you have invested, provided you haven't made any withdrawals. Investments start from an affordable £10 a month.
The table below provides all the plan detail and things you should consider. For more information on My Prosperity (ISA) please visit the detail tab.
|Investment features||What you need to consider|
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.
From an affordable £10 a month, or a lump sum of £100, your money could work hard to grow a useful cash sum for the future. You can have an Investment ISA (also known as a Stocks & Shares ISA) like My Prosperity (ISA), even if you already have a Cash ISA or (from 6 April) an Innovative Finance ISA with another ISA provider as long as you don't exceed your annual ISA allowance of £15,240.
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.
With My Prosperity (ISA) you get a guaranteed cash sum:
Peace of mind with a guaranteed minimum cash lump sum if you cash in on the 10th anniversary of the start date of your investment.
A cash sum that will initially be at least equal to the payments you've made into it, provided you haven’t withdrawn any of the money in your My Prosperity policy.
A guaranteed minimum cash lump sum for every 5 years thereafter. That is on your 15th anniversary, 20th anniversary, 25th anniversary.
If you cash in or take a withdrawal before or after the 10th anniversary, you may get back less than you have paid in.
With flexible payment options available My Prosperity (ISA) puts you in control of your money:
Stop, restart, increase or decrease your payments whenever you like.
Access your money instantly, should you ever need it.
Choose if you want to increase your payments each year (this is known as your yearly payment increase rate).
It’s worth remembering that if you’re aiming to grow a cash sum for a particular reason, stopping or lowering your payments will take you longer to achieve it.
You can choose to increase your payments each year, if you wish, by a rate to suit you – for example 2.5%, 5% or 10% a year.
In order to check what your monthly premiums would be each year for the first 10 years, check out our handy tool below:
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.
When you set up a My Prosperity (ISA), your money is invested in an individual savings and investment policy, which sits within your Scottish Friendly ISA. The good thing about this is that you can set up as many policies as you like within your ISA.
You can set aside different sums of money for different events in the future or family members. You could for example, set up a policy for each of your children, another for a rainy day, and maybe one for a special holiday – all within your Scottish Friendly ISA.
Opening a My Prosperity (ISA) with Scottish Friendly is easy.
First, please make sure you have read and understood the Key Features. Then you’re ready to apply online.
If you apply we suggest printing or saving a copy of this page along with other relevant web pages the Key Features. That way, they will always be handy should you need to refer to them.
My Prosperity (ISA) invests solely in our Unitised With-Profits fund, for further information on the fund, please see the table below.
|Key benefits||What you need to consider|
Remember though, the value of the My Prosperity (ISA) can go down as well as up and your original investment is not guaranteed, other than on the 10 year anniversary of your continuous investment in the fund.
When you start a My Prosperity (ISA), your money will be invested in a My Prosperity policy within a Scottish Friendly ISA, which will invest in our Unitised With-Profits fund.
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.
Use the sliders and click Calculate to see what you might get back within a My Prosperity (ISA).
If you want to make a lump sum investment you can see an example of what you might get back in the Key Features.
Scottish Friendly is not responsible for the accuracy of the information displayed on externally linked third party websites. The Scottish Friendly Group of Companies consists of the following companies: Scottish Friendly Assurance Society Limited – Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Member of AFM, Member of ABI: Life, Savings and Investments. Scottish Friendly Asset Managers Limited – Authorised and regulated by the Financial Conduct Authority. Member of The Investment Association. Registered in Scotland No 187215: OEIC Managers, ISA Managers. Scottish Friendly Insurance Services Limited – Authorised and regulated by the Financial Conduct Authority. Registered in Scotland No 113007. SFIS (Nominees) Limited - Registered in Scotland No 397351. Head office: Scottish Friendly House, 16 Blythswood Square, Glasgow G2 4HJ.