What does Prosperity Savings Plan offer?

If you think you should be putting a bit more aside for the future, our Prosperity Savings Plan could be just what you need.

The Prosperity Savings Plan is a 10 or 15 year investment plan, for anyone aged between 18 and 55, which aims to turn a regular monthly payment into a tax paid cash payout. When your plan comes to an end, your cash payout will be completely free of personal taxes under current legislation. That's because any tax on the growth of the fund is automatically deducted.

You could use the cash sum to save towards a wedding, home improvement, a car or simply because saving is a worthwhile thing to do. Whatever you have in mind the Prosperity Savings Plan is designed for anyone who wants the chance to make their money grow in the longer term.

How much can I save?

You can save:

• From as little as £30 per month
• Or any amount up to £100 per month

You can choose to save for either 10 or 15 years. If you cash in before the end of the duration of your plan, you may not get back as much as you have paid in. If you cash in within the first 2 years, you will get nothing back.

How could my savings grow?

Your plan is invested in our With-Profits fund which is managed across a range of assets for long-term growth, as well as providing a degree of security in the form of a guaranteed minimum cash sum. The 'How we invest your money' guide provides full details of how we go about managing your money. Your actual guaranteed minimum cash sum will depend on your age and how much you pay in each month.

At first, your guaranteed minimum cash sum will be less than your total payments into the plan, however it's designed to grow through the addition of bonuses.

The main long-term growth potential of your Prosperity Savings Plan is through the addition of regular bonuses and a potential final bonus.

The value of any regular and final bonus we add is based on how much profit we make, our actual charges and investment returns and how we distribute this to members. Future bonuses are not guaranteed.

In addition, your plan includes a small element of life cover which ensures that on death your estate will receive at least your guaranteed minimum cash sum plus any locked in bonuses. The amount of life cover you get depends on your age, your health and the amount you pay in. You should ensure that you consider all the benefits under this plan for your own financial needs.

How your savings could build

Projected returns on £50 a month invested over 10 years and 15 years*

Projected returns for illustration only. Remember your original investment is not guaranteed and you could get back less or more than the amounts shown. Source: Scottish Friendly. Based on someone aged 40 next birthday at outset saving £50 per month *Total amount invested over 10 years is £6,000 and over 15 years £9,000. The annual rates of growth have been based on our reasonable estimate of potential returns and are lower than the maximum allowable investment growth assumptions. All the figures include the deduction of the actual charges assumed on the plan. These figures are only examples and the projected benefits are not guaranteed. They are based on premiums being paid for the full life of the plan. They are not maximum or minimum amounts; what you get back depends on how your investments grow. You could get back more or less than this. Do not forget inflation would reduce what you could buy in the future with the amounts shown.

Apply now

Applying is easy. Simply click on the Apply Online Now link, read the key features and 'How we invest your money' guide then complete and submit your application today. Or if you'd prefer to apply by post click on the Download Application Form link, to download an application form, read the key features and 'How we invest your money' guide then complete it and post it to:

Scottish Friendly Assurance, FREEPOST, Glasgow G2 4BR

When you start saving with us, you receive a gift. You can chose to receive £15 worth of M&S vouchers or £15 High Street vouchers. Don't forget to select which gift you would like on your application.

If you are in any doubt as to whether this product is suitable for you please contact your usual Financial Adviser.

If you apply for this product, for your records, we recommend you print or save a copy of this and any other relevant pages together with a copy of the key features and 'How we invest your money' guide.

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