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An ISA (individual savings account) is an investment with tax advantages. Proceeds from an ISA are completely tax free, under current legislation.
Our With-Profits ISA is a Stocks & Shares ISA which invests in Kingston Unity's With-Profits Fund. The aim of the fund is to provide smoothed returns through investing in a mixture of assets such as equities, fixed interest deposits and government stocks, commercial property and cash. The ISA grows through the addition of potential bonuses.
The With Profits ISA is designed to be a medium to long term (3-10 years) investment with the aim of providing a better return than a bank or building society.
You should remember that growth is not guaranteed and depending on when you withdraw from your ISA you may get back less than you have paid in.
Please read the Key Features and Frequently Asked Questions below for more information. You can also download and read an Information Pack.
If you wish to apply to open a Kingston Unity With-Profits ISA you should download an Application Pack which contains essential information and all the paperwork you require to open your ISA.
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A Stocks and Shares ISA which invests in the Kingston Unity with Profit fund. There is the possibility of annual bonuses being added to the account.
The With-Profits fund aims to smooth returns to avoid the worst of market fluctuations. It does this by investing in a mixture of asset classes.
Premiums are invested in our with-profits fund. This is made up of investments into four main asset classes; equities, commercial property, fixed interest (eg gilts, corporate bonds etc)& cash. The purpose of this is to reduce investment risk whilst giving exposure to assets that over a period of time should generate growth and provide a balanced approach with low to medium risk.
Bonuses added to your plan are called "reversionary bonuses" and once added they cannot be taken away except in the case of an MVR been applied. The bonus rates are determined by the Society`s board following advice from the Actuary. We aim to keep the total bonus paid to members on their ISA in line with the investment return acheived over the term of the investment less a 1.5% management charge and after allowing us to smooth out extremes at either end.
The value of the regular bonus given in the past should not be used as a guide to what you may receive in the future. New bonus declarations will reflect the Society`s investment performance, expenses, solvency position, expectations and future returns.
A market value reduction (MVR) could reduce the amount we pay out if you withdraw from, or cash in, your ISA before the 10th anniversary or at times that are not covered by the guaranteed MVR-free dates.
This could result in a reduction of capital as well as bonuses.
The purpose of the MVR is to ensure that you receive your fair share of investment profits, and when investment conditions are adverse that people who cash in do not reduce the value of the fund for those who continue to invest.
The amount of the MVR depends on when you invested, the period over which you have invested, and the investment market conditions during this time. An MVR is not applied on death. The level of MVR will be set by the Society's Board after receiving advice from the Society's Actuary.
We will try to smooth the returns payable to members through their ISAs.
This practice may alter at any time and without notice.
We guarantee not to apply an MVR is you choose to cash in or make withdrawals at the 10th anniversary of starting the ISA and every subsequent 5th anniversary after this.
You can either pay your contributions as a one off lump sum or you can pay by standing order each month.
There is no fixed term but to maximise on potential growth we recommend that you retain your Kingston Unity Stocks and Shares ISA for the medium to long term.
Yes under normal circumstances you can transfer all or part of the money saved in previous years with another provider to a Kingston Unity Stocks and Shares ISA without any effect on your annual ISA investment allowance for this tax year.
You can also transfer money saved in the current tax year with another provider in a Stocks and Shares or Cash ISA to a Kingston Unity Stocks and Shares ISA. The transfer must be the whole amount saved in the current tax year up to the date of transfer.
Once money saved in the current tax year in a Cash ISA is transferred into a Stocks and Shares ISA it will be treated as if it had been invested directly into the Stocks and Shares ISA in that year
On early death the society will pay 101% of the value of the ISA at the date of death to the individual's estate. Interest to the date of death will be credited tax free but any interest added between the date of death aand the date of payment will be subject to tax at the applicable rate in force.
Upon death ISAs lose their tax free status and cannot be continued by the holder's beneficiaries.
The premiums are invested in the Kingston Unity With-Profits Fund which invests in a mixture of assets such as property, fixed deposits, shares and cash. Find out more »
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