Supporter Bond
Supporter Bond
The Supporter Bond is a with-profits plan that allows you to invest up to £25 per month tax-free with a friendly society like Scottish Friendly over a period of 10 years. The table below provides all the plan detail and things you should consider. For more information on Supporter Bond please visit the in detail tab.
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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.
Supporter Bond
Soccer Savings has teamed up with Scottish Friendly to give you the chance to start investing for the future.
What does the Supporter Bond offer?
The Supporter Bond and the Under 16s Supporter Bond let you use the special Government tax-free savings allowance that only friendly societies can offer. This allows everyone to save up to £25 a month free of income and capital gains tax and is in addition to other tax-efficient savings you may already have, such as ISAs.
The Scottish Friendly Supporter Bond is a 10-year savings plan and is designed to let you take full advantage of your tax-free savings allowance. Anyone aged between 16 and 55 can pay into one and the Under 16 version can be taken out for children under the age of 16. At the end of the ten year term, having paid all your premiums, you'll end up with a guaranteed cash sum plus potential bonuses to spend however you wish. This could be ideal to help with further education or training or setting off on a career. If you cash in before the end of the 10 year savings period, you may not get back as much as you paid in.
When you invest with the Supporter Bond, you're saving tax-free in two ways.
- First, unlike most investments and savings accounts, your money grows free from tax (other than tax on dividends from UK shares).
- Second, you don't pay tax on the payout when your bond matures.
Your money will be invested in the Scottish Friendly With-Profits fund. This 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 at the end of 10 years. 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 (or the age of the child for the Under 16 version) and how much you pay in each month. Please remember if you cash in your bond 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.
How much can I save?
You can choose to save £15, £20 or £25 a month in the Supporter Bond or £10, £18 or £25 a month in the Under 16s Supporter Bond.
A guaranteed cash sum after 10 years
- your money in safe hands
The Supporter Bond offers a convenient way of building your savings and your payout is made up of two parts:
A guaranteed minimum cash sum after 10 years: your bond 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 at the end of 10 years. At first, your guaranteed minimum cash sum will be less than your total payments into the bond, however it is designed to grow through the addition of bonuses.
Potential bonuses: the main long-term growth potential of your bond 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.
Life cover is included
Life cover is automatically included for added peace of mind. This will pay out a tax-free cash sum made up of the guaranteed amount plus any bonuses added in the event of the death of the plan holder during the term of the Supporter Bond.
The amount of life cover depends on your age (or the age of the person you've taken out the bond for), how much you pay in and may be subject to medical conditions. You should consider whether life cover is appropriate for your financial needs or those of the person you're investing for. Please read the Key Features for full detail on this and other aspects of the bond.
Apply now
Starting a Supporter Bond with Scottish Friendly is easy.
Make sure you have read and understood the Key Features and ‘How we invest your money’ guide before you apply. Then you’re ready to:
- Apply online;
- Download an application form and post it to:
Scottish Friendly Assurance, FREEPOST, Glasgow G2 4BR.
When you start saving with us, you'll receive a gift from Soccer Savings. All gifts will be supplied by Soccer Savings who will contact you to confirm your gift choice and arrange secure delivery.
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.