Why invest in our Flexible Savings Plan?
At Wesleyan, we understand that you want to be flexible with your money. That's why our easy-to-manage Flexible Savings Plan allows you to mix regular and one-off payments to suit you.
- Invest in a choice of 14 funds, including our flagship With Profits Fund
- Grow your investment from as little as £100 per month
- Switch between funds, and top up your investment at any time
- Can be used in combination with a trust
Please note initial and ongoing charges apply.
Bear in mind the value of investments and any income can go down as well as up and you may get back less than you invest.
How it works
With the Flexible Savings Plan, you can invest in up to 12 investment funds from a choice of 14. Invested in a wide range of asset classes, the funds are professionally managed by our award-winning team.
While we manage the funds, you control your investment. You can move your money into one or more different funds at any time, making up to 12 fund switches in a 12-month period (switching fees may apply).
Investment Team of the Year 2023
After winning Responsible Investor of the Year at the Insurance Asset Risk Awards 2022, our investments team was named Investment Team of the Year in 2023. When you invest with Wesleyan, you can be confident your money is in safe hands.Key details
To open your Flexible Savings Plan, you’ll need to set-up a regular payment of at least £100 per month. You can increase that payment later if you wish, and you can also make lump-sum top-ups of £500 or more.
Bear in mind that if you’d rather invest a lump sum rather than monthly payments, it might be worth looking at the Capital Investment Bond.
The Flexible Savings Plan is designed for medium to long-term investment, so you should be prepared to invest for at least five years.
That said, you can take money out if you need to. You can take out £500 or more at any point, as long as you leave at least £500 invested in the plan.
The Flexible Savings Plan can be held in trust, to make sure your plan is treated the way you would wish when you die. This can help with estate management and inheritance tax planning.
For more information on trusts, please speak to a Specialist Financial Adviser from Wesleyan Financial Services.
Inheritance Tax Planning is not regulated by the Financial Conduct Authority.
The Flexible Savings Plan can be taken out alone or as a joint plan. It will therefore cover the lives of one or two people.
We will pay out 101% of the plan's value when you die, or, if it’s a joint plan, when both people covered by the plan die.
Apply for a Flexible Savings Plan
Alternatively, call us on 0808 239 0218 or request a call back to speak to a member of our team.
* 3% initial advice charge applies for advised applications.
Important information
Charges
Initial Advice Charge
When you open your investment through a Specialist Financial Adviser from Wesleyan Financial Services, an Initial Advice Charge of 3% applies.
If, after setting up your plan, you subsequently make a direct payment without taking further advice, the Initial Advice Charge will not be payable on that payment.
Annual Management Charge
An Annual Management Charge (AMC) applies, which is a percentage of how much your plan is worth each year. The AMC percentage depends on the fund or funds that you invest in, and can be found in the fund factsheets.
If you are opted in to Wesleyan Financial Services’ Ongoing Advice Service (OAS), the cost of the OAS will be 0.5% of your plan value each year.
We may also charge you for switching your money between different funds, though the first switch each year is free.
Tax summary
Please refer to the Key Features Document for more details of the tax treatment of the Flexible Savings Plan.
Eligibility
You can take out a Flexible Savings Plan if you are aged 18 or over, and are a UK resident for tax purposes.
The maximum age for taking out a plan is 74, but if you take the plan out jointly, only one of you needs to be 74 or under.
Key documents
Please read the following documents before applying: