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PACE Financial Management
200 Ridgeway Road
Sheffield
S12 2TA
Tel: 0114 2397777
Fax: 0114 2390777

Office Opening Hours:
Mon - Fri 9 to 5

Savings & Education

Friendly Society Plan

The Friendly Society Plan is a tax-efficient savings plan that allows anyone to save for a child's future. When your child reaches 18, 21, or 25 you can choose for them to receive a lump sum.  It can also include an element of life cover.

Endowments

The most common form of savings contract offered by life assurance companies is endowment assurance, which is broadly speaking, a policy on which the sum assured is paid out at the end of a specified term or on the earlier death of the life assured, although some policies are open-ended and allow policyholders to choose when to receive the proceeds of their investment.  The client's investment is made in the form of regular premiums to the life assurance company throughout the term of the policy.  There are a number of variations, the most common of which are:

  • Non-Profit endowment - The policy has a fixed sum assured, which is payable on maturity, or on earlier death.  Because the return is fixed then the investor is is shielded from losses due to adverse stock market movement; but on the other hand is unlikely to share in any profits should the markets move the other way.
  • Full with-profit endowment - Same as the non profit it has a fixed sum but the premium is higher with the same fixed amount, with the additional premium being used to share in the profits, and also losses, of the assurance company.

Further Information

If you have any further questions on the subjects on this page then please do not hesitate to contact us on the address, number or e-mail address on our contacts page, or consequently you can fill in the form below and we will try to get in touch as soon as we can.

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Pace Financial Management are authorised and regulated by the Financial Services Authority

The Financial Services Authority does not regulate taxation and trust advice, will writing, school fees planning and certain off-shore investments.

We are entered on the FSA Register No 207492 at www.fsa.gov.uk/register

The value of investments can go down as well as up and you may not get back the full amount invested.

The Levels and basis of and relief's from taxation are subject to change and their value depends on the individual circumstances of the individual.

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