Key benefits:
- Invest your money for as long as you want to, with the aim of increasing the value of your investment
- Make regular and one-off payments
- Cover the life of one or two people
- Choice of 17 investment funds, including our flagship With Profits fund
- Switch between one or more funds
- The plan pays a cash sum when a person covered by it dies
- Online access to your plan via My Wesleyan
A savings plan with the flexibility to change payments
For more information and a personal review of your investment options, contact your Financial Consultant. Alternatively, leave your details and we'll call you back.
Facts at a glance:Who can take out a Flexible Savings Plan? You can take out a Flexible Savings Plan if you are aged 18 or over and are a UK resident for tax purposes.
You can set up the plan so you own it on your own or jointly with someone else. The maximum age for taking out the plan is 74 but if you take the plan out jointly, only one of you needs to be 74 or under.
How much money can I invest?
You need to pay in at least £100 or more each month, with the option to increase or reduce payments by £10 a month or more (as long as you keep paying the £100 per month minimum). You can also make lump sum payments of £500 or more.
How much will I get back?
The amount of money you get back will depend on how your Investments perform.
Where is my money invested?
There are 17 investment funds to choose from and you can hold money in up to 12 of these at any one time. You can find details about the available funds in our fund fact sheets on the Fund Prices page.
Can I switch money between funds?
Yes, you can move into one or more different funds at any time. You can make up to 12 fund switches in any 12 month period.
Can I take some money out?
Yes, you can take out £500 or more whenever you want to. Just leave at least £500 invested in the plan.
What happens when the person covered by the plan dies?
We'll pay out a lump sum of 101% of your plan's value.
What are the charges?
We take 5% of each payment you make before it is invested.
We take an Annual Management Charge of 1.45% of how much your plan is worth each year.For some funds we take an extra Annual Management Charge. Our fund fact sheets have more information about the extra charges.
We also charge when you make two or more fund switches in each calendar year.
More details about the charges are shown in the Key Features document.
Can the plan be set up in trust?
Yes, you can arrange for your plan to be held under trust. Trusts can provide a way of making sure your plan is dealt with in line with your wishes if you die, and can help to reduce the amount of tax which needs to be paid in certain circumstances.
What about tax?
Please refer to the 'What about tax?' section in the Key Features document for a summary how tax applies to the plan based on how we currently understand the rules.
Key Features document
Please use the link to the Key Features of the Flexible Savings Plan for important information about this product.