What does MoneyBuilder offer?
MoneyBuilder is a long term investment that helps you set some money aside for your future. It’s a wallet friendly plan - it allows you to make small investments that increase over five years to help your investment grow. Take a glance at the table below for a useful summary of the plan and visit the in detail tab for more information on MoneyBuilder.
| i Your MoneyBuilder Plan |
i Things you should consider |
- Make building a regular savings habit as painless as possible with this 15 year plan.
- Start from as little as £10 a month and your payments increase gradually by 20% each year over the first five years.
- You get a guaranteed minimum cash sum after 15 years that can grow through the addition of potential regular bonuses and a potential final bonus.
- Your cash pay-out is related to the investment performance of the Scottish Friendly With-Profits Fund.
- All growth is paid after the deduction of tax by Scottish Friendly.
- Your cash pay-out after 15 years is free of any taxes, even if you are a higher rate taxpayer.
- No profits are paid to city shareholders meaning they can be reinvested for the benefit of Scottish Friendly customers.
- A small amount of life cover is automatically included.
- To apply, you need to be a UK resident aged between 16 and 59.
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- You need to be comfortable with the increasing monthly payments: from year six your payments will be double those in year one.
- The amount of your guaranteed minimum cash sum depends on your age and how much you pay in. It will initially be less than your total investment over 15 years.
- Future bonus levels depend on investment returns and expenses and how Scottish Friendly decides to distribute profits to customers. As such they cannot be guaranteed in advance.
- If you cash in your plan early, 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.
- If you do cash in your plan before 15 years, its value will be linked to the performance of the Scottish Friendly With-Profits Fund. This means that your unit value may be increased by a final bonus or reduced by a Market Value Reduction.
- Tax treatment depends on your individual circumstances. The levels and basis of taxation may change in the future.
- The cost of life cover is included as part of the plan’s charges. The cost of life cover is higher for older ages.
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Find out more
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.
