Tax-free Savings Plans for adults and children
Who can take out a TFS Savings Plan?
Anyone under age 65, currently employed in the passenger transport industry, their spouses, partners, other family and friends can take
out a plan.
Children can also have a Plan; there is no minimum age but plans must run for at least 10 years.
A Child’s Plan must mature at age 18 or after 10 years. Plans can be taken out by parents, step parents, grandparents or godparents on behalf of the child.
Adult plans> You can choose to save for as long as you like providing it’s for a minimum of ten years and the plan ends before your 75th birthday.
> We pool everyone’s money together and invest it in stocks and shares, government stocks (sometimes called gilts), corporate bonds. Some money is also deposited with major banks.
> Subject to the satisfactory performance of these investments, each year we add a bonus to each policy. The level of bonus can vary from year to year depending on investment performance.
> Each year we will send you a bonus notice to let you know how your policy is progressing.
> It’s important to remember that our savings plans are long-term contracts and if you surrender before maturity you could get back less than you paid in.
For more details and/or if you wish to apply you can download a key features brochure and application form by clicking on the links to the right.
If you have children, stepchildren or grandchildren you can start a savings plan for them.
Imagine how they would feel at 18 having a lump sum to help purchase their first car or start them off at University. The policy works in the same way as the adult’s plan and runs for a fixed period which you decide at the start – minimum 10 years.
To start a children’s savings plan just give us a call – 020 7833 2616 – or download the application form by clicking on the link to the right, complete it and pop it in the post to us.
> click here to view and download our Tax-Free Savings Plans brochure and application
> click here to view and download the Key Features Document for this plan
> click here to apply online now - it’s easy!
Did you know…
Friends and family of those working in passenger transport can now join by taking out one of our savings plans
Even if you change jobs you can still keep your policy