Our popular regular monthly or annual premium savings plan with a maximum investment of £25 per month or £270 per annum, and a guaranteed sum assured. Maturity values are tax-free under current legislation, which may change in the future.
You can open your plan with as little as £5 per month – which makes it great for children. Even though a child may not have his/her own income an adult may pay the subscription on his/her behalf. This is an ideal way to build up a lump sum - perhaps as a coming-of-age gift or to help with school or university fees.
And our Tax Exempt Savings Plan is flexible - you choose the period, from a minimum of 10 years to a maximum of 25. Providing that the plan runs to its planned maturity date, Sheffield Mutual will, depending on the amount you wish to save and for how long, guarantee a minimum sum assured. The final value will depend upon investment performance but tax free bonuses are declared by the Society's Committee of Management acting on actuarial advice, each three years, and this is added to your guaranteed sum assured. For your peace of mind, once added this bonus cannot be taken away.
Interested? Start your plan now
Simply decide how much you would like to save, for how long, and whether you would like to save monthly or annually. You should download our starter pack. Study the 'Key Facts' literature and, providing you do not need any advice, complete and sign the application form and direct debit authority. Dont forget to enclose a proof of identity (List A) and a proof of address (List B) noted on the Money Laundering information sheet. Return all the above items by post to:
Freepost RLUC-XKZE-RJAT
Sheffield Mutual Friendly Society
3 Maple Park
Maple Court
Wentworth Business Park
Tankersley
Barnsley
South Yorkshire
S75 3DP
along with a cheque for the initial premium.
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