Scottish Friendly Grandchild Flexible Plan
Watching your grandchildren grow is one of life’s greatest pleasures – with all the joy of having children, but less of the hard work. Whether you see your grandchildren regularly, or once in a while, they certainly mark the passing of the time – it can seem to fly by.
You want to ensure that in years to come, you’ll still be able to lend a helping hand. It’s normal to worry about the future of your family – you want the best for them. After all, you’ve been handing on your wisdom and experience for years.
Putting away a little each month to save for your grandchildren’s future is a great way of supporting them when they need it most. And in a rocky economic climate, you can help ensure they have a useful sum set aside for the future.
Scottish Friendly’s Grandchild Flexible Plan is a tax-free investment that can help ensure your grandchild gets off to a great start in life. Whether you want to help towards further education costs, give your grandchild a once-in-a-lifetime travel experience or help them get on the property ladder, your contributions mean you can give them a financial boost they won’t forget. Bear in mind that tax treatment depends on their individual circumstances and tax law may change in future. Tax-free means the fund your plan invests in grows free of income and capital gains tax (other than tax on dividends from UK shares).
By investing £25 a month and using their tax free allowance for a maximum of 18 years, you give your money the long term growth potential of the UK stock market, although, bear in mind, the value of your Grandchild’s investment can go up as well as down and they could get back less than you have paid in.
You can take out a plan for a grandchild under the age of 16 who is a UK resident. It’s your gift to your grandchild. The policy can be cashed in early if there’s something they have their heart set on, and you want to enjoy the experience of giving at a time that’s right for you all. However, if the plan is accessed before ten years, your grandchild may have a tax charge to pay and there will be a £50 deduction from the cash-in value.
But knowing you are investing for the future of your family is something that should hopefully give you pleasure for years to come.
Latest posts by Silversurfers Editor (see all)
- Win an e-bike worth £799.99 from E-Bikes Direct! - February 22, 2017
- The unwavering popularity of Optiflame® - February 20, 2017
- Is a Jaffa Cake a biscuit or a cake? - February 20, 2017
- The Active Collection from Hotter - February 20, 2017
- Enjoy the benefits of owning a dog without the commitment - February 20, 2017
Leave a Comment!
Community Terms & Conditions
These content standards apply to any and all material which you contribute to our site (contributions), and to any interactive services associated with it.
You must comply with the spirit of the following standards as well as the letter. The standards apply to each part of any contribution as well as to its whole.
be accurate (where they state facts); be genuinely held (where they state opinions); and comply with applicable law in the UK and in any country from which they are posted.
Contributions must not:
contain any material which is defamatory of any person; or contain any material which is obscene, offensive, hateful or inflammatory; or promote sexually explicit material; or promote violence; promote discrimination based on race, sex, religion, nationality, disability, sexual orientation or age; or infringe any copyright, database right or trade mark of any other person; or be likely to deceive any person; or be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence; or promote any illegal activity; or be threatening, abuse or invade another’s privacy, or cause annoyance, inconvenience or needless anxiety; or be likely to harass, upset, embarrass, alarm or annoy any other person; or be used to impersonate any person, or to misrepresent your identity or affiliation with any person; or give the impression that they emanate from us, if this is not the case; or advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse.
Nurturing a safe environment
Our Silversurfers community is designed to foster friendships, based on trust, honesty, integrity and loyalty and is underpinned by these values.
We don't tolerate swearing, and reserve the right to remove any posts which we feel may offend others... let's keep it friendly!