About investing in this policy
- A My Choice policy within a Scottish Friendly Junior ISA is a medium to long-term investment of at least 5 years and ideally 10.
- As with all investments, it's important to be aware that the value can go down as well as up, so your child could get back less than you've paid in.
- Money in a My Choice policy within a Scottish Friendly Junior ISA belongs to the child. They can only withdraw it when they reach 18.
About tax and Junior ISAs
- Tax treatment depends on individual circumstances. Tax law may change in the future.
- Tax-free means the policy grows free of income or capital gains tax (other than tax that's already paid i.e. on dividends from UK shares).
- There are two different types of Junior ISA - Investment Junior ISAs and Cash Junior ISAs - and the child can have one of each.
- The current Junior ISA limit is £4,128 and this is the total you can invest across both types of Junior ISA each year.