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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. Your premiums are invested in Kingston Unity's With-Profits Fund.
Medium to long term investment plan - the ISA grows through the addition of potential bonuses. Once added, bonuses cannot be taken away except in certain circumstances.
Regular payments from only £25 per month, or lump sum investments from £500
Withdrawals allowed
Your capital is guaranteed on certain dates
Please read the Key Features and Frequently Asked Questions below for more information. You should also download and read the Information Pack. You can use the links to the right to access this.
For any further details on any of our products please get in touch:
A Stocks and Shares ISA which invests in the Kingston Unity With Profit fund.
The ISA grows by the possible addition of annual bonuses 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.
Any bonus will be added to your ISA on 5th April. The bonus is calculated based on the daily capital balance of your ISA and the bonus rate in force on each day.
The value of any 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.
The With Profits ISA is very flexible when it comes to making contributions.
For regular monthly contributions, the minimum monthly amount is £25.
For lump sum contributions, the minimum initial contribution is £500.
If you wish to increase, decrease or even stop your monthly contributions then you can do so. All we ask is that any monthly contribution is at least £25.
If youhave made an initial lump sum contribution of at least £500, then you can top up your ISA by making additional lump sum payments whenever you like. These need only be a minimum of £50.
You can also 'mix and match' by making regular monthly contributions and lump sum investments, subject of course to the overall annual ISA allowance in force.
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.
The first guaranteed MVR free date is the 10th anniversary, and you should certainly aim to invest in your ISA for at least 5 to 10 years.
If you need access to your capital, you can withdraw part of itat any time, subject to the following rules:
Depending on market conditions at the time, a MVR may be applied to your withdrawal.
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.
Under normal circumstances you can transfer all or part of the money saved in previous years with another provider to a Kingston Unity With Profits 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
There is a 1.5% annual management charge which is taken into consideration before bonus rates are declared. Management charges are not taken off individual ISAs.
There is also the possibility of a MVR being applied under certain circumstances.
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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