Your Savings & Investment Plan questions answered
What is the Forester Life Savings & Investment Plan?
The Forester Life Savings & Investment Plan offers a flexible and simple way to save and invest over the medium to long-term, whatever your budget. Designed for low-cost stakeholder savings, you can save from as little as £20 or as much as you want. Unlike an ISA there is no maximum limit.
Stakeholder investment schemes were introduced by the Government to offer consumers straightforward, low cost, risk-controlled products which meet certain standards.
The Forester Life Stakeholder Managed Funds aim to achieve medium to long-term growth consistent with stakeholder standards for ‘risk-controlled’ investment. The Funds include investments which consist of shares, index linked and other fixed interest securities designed to provide growth potential without undue risk.
How can I save into my Savings & Investment Plan?
Single contributions can be made by debit card or direct from your bank (via Direct Credit), or you can set up monthly savings by Direct Debit.
What are the charges?
The only charge on our Savings & Investment Plan is an Annual Management Charge of 1.5% of the fund value per annum, and reduces to 1% per annum 10 years after the first contribution. The Forester Life Stakeholder Managed Funds meet government-set stakeholder standards, which means more of your money is invested for your benefit.
Can I make withdrawals from my Savings & Investment Plan?
Yes the plan allows easy access to your savings and investments.
Can I open a Savings & Investment Plan if I already have an ISA?
Yes, you can open a Savings & Investment Plan regardless of any ISAs you may have. In fact you can have multiple Savings & Investment Plans for different savings goals.
How long should I invest in a Savings & Investment Plan?
Your Savings & Investment Plan has no specific term but should be seen as a medium to long-term investment. You should aim to invest for at least five years. Don’t forget, after 10 years you benefit from reduced charges.
Who is eligible to take out a Savings & Investment Plan?
You are eligible for the Forester Life Savings & Investment Plan if you are aged 16 or over.
The information on our website is provided for information purposes only. It is not financial, investment, tax, legal or any other type of advice. Any decision you make to apply for a Forester Life Savings & Investment Plan is entirely yours.
What you should know
Here is some useful information on managing your Savings & Investment Plan with us:
- 24/7 access to your account – Once your application has been processed, you can access your account details 24-hours a day, so you can see what it’s worth, make additional payments and view all your statements and documents.
- Keeping up with inflation – We automatically increase the amount of your regular savings each year by a minimum of 2.5% to help keep pace with inflation. So there is one less thing for you to remember. We will write to you each year before this happens so you can cancel the increase if you wish.
- Flexible contributions – Our Savings & Investment Plan allows for a flexible savings habit. You can increase or decrease monthly contribution as you wish. You can even arrange a payment holiday on regular contributions.
Any other questions?
Please call us on:
0333 600 0333
Local rates apply