When you set up a My Easy Choice (ISA), your money will be invested in an investment policy within a Scottish Friendly ISA. The policy then invests in our Unitised With-Profits fund. To apply for this ISA you need to be 18 or over and a UK resident. You can subscribe to only one stocks and shares ISA each tax year. For the current tax year the overall maximum you can save in all your ISA types is £20,000. Please remember that this is a medium to long term investment (of at least 5 years, preferably 10). Your investment will grow free from tax, except for any tax we pay on your behalf (such as on dividends from UK shares). Tax treatment will depend on your own individual circumstances and may be subject to change in the future. Investments can go down as well as up and you may get back less than you’ve paid in.
Could be right for you if...
You want to invest from £10 a month or make a lump sum payment of £100 or both.
You want a single fund choice with a guaranteed minimum cash lump sum on your 10-year anniversary of investing. Terms apply.
You want to manage your ISA online and on the go with our My Plans online portal and mobile app available on the App Store and Google Play.
About our My Easy Choice (ISA)
When you set up a My Easy Choice (ISA), your money will be invested in an investment policy within a Scottish Friendly ISA. The policy then invests in our Unitised With-Profits fund, which you can read more about in the 'Invest in a single fund' section.
Flexible payments let you invest from £10 a month, or make a lump sum payment of £100 or both.
Invest alongside other ISA types up to your annual £20,000 ISA limit.
You can also choose to automatically raise your monthly payment amount by a set percentage every year - e.g. 2.5%, 5% or 10%. This is called your yearly payment increase rate.
Get a welcome gift worth up to £45 after you start investing. Terms apply.
Winner of 'Leading Investment Firm UK' at the International Business Magazine Awards 2022 and 'Best Tax Efficient Products Provider UK' at the World Business Outlook Awards 2022.
If you would like to pay in regular contributions of £100 a month or more and don’t need the flexibility of stopping, lowering or restarting your payments, we have another product that could be more suited to you. My Prime (ISA) gives you access to the same fund, whilst enabling you to invest more.
Invest in a single fund
When you set up a My Easy Choice (ISA), your money will be invested in a single fund - the Unitised With-Profits fund.
The information and Key Information Document (KID) below gives you an overview of the fund including any charges and should be read alongside the Product Guide.
- A mixed managed fund from Scottish Friendly where premiums are pooled with those of other clients and returns are linked to the performance of the underlying assets within the fund.
- An investment linked to a cautiously managed portfolio of stock market, property, cash and bond assets.
- Provided you haven't made any withdrawals or switched out of the fund, if you cash in only on the 10th anniversary, or on each subsequent 5th year anniversary thereafter, of your continuous investment in the Unitised With-Profits fund you will receive a guaranteed cash sum of at least as much as you have invested.
Things to think about
- When you cash in, switch out or take a withdrawal from the Unitised With-Profits fund you will receive a value which is in line with the performance of the assets within the fund. This is done by adding a final bonus or deducting a market value reduction.
- No market value reduction can apply on the 10-year anniversary, or on each subsequent 5th year anniversary thereafter, of your continuous investment in the Unitised With-Profits fund, which provides your guaranteed value.
- Continuous investment means you have maintained at least one full unit in the Unitised With-Profits fund and is measured from the first day you invest.
What you could get back?
See how your money could grow based on your premium and fund choice within a My Easy Choice (ISA). This tool provides examples of what you could get back in the future based on a payment amount.
Projected returns on
- lump sum
- per month
- Invested in the
- Over years at
- yearly payment increase rate
- * Total amount invested of at per month
Remember, this chart is just to give you an idea of what you might get back. What you get back depends on the rise and fall of the underlying assets and you could get back more or less than the example figures projected above and the total amount invested. Do not forget that inflation would reduce what you could buy in the future with the amounts shown.
The lower projected growth rate of 0.25% provides for a return which is less than the total investment you will make over a 10 year term. This is due to the effect of charges, however you are guaranteed to get back at least what you have invested.
Please note that a Market Value Reduction (MVR) may apply when you cash in your policy. This is designed to ensure that the amount you receive is in line with the value had you invested directly in the assets backing your policy.
The annual rates of growth for the illustration have been based on our reasonable estimate of potential returns. They are subject to the maximum rates specified by the Financial Conduct Authority. All the figures include the deduction of the actual charges assumed on the plan. These charges may vary in future.
Investing can seem like a tricky business, so if you have a few questions or aren't sure where to start, we have some useful guides to help get you started.