Preparing to launch – November 2016

25.10.2016 by Alex Berry

We’ve been providing a range of savings and investment product to our members since 1840, and we’ve seen a lot change in the financial service sector over the years.

This is why we think it’s about time saving became simple.

We are preparing to launch a pioneering new product to make saving for younger members of the family simple, quick and flexible.

Our Friends and Family Junior ISA enables parents, grandparents, godparents and friends to easily pay into an account which, in years to come, could help pay towards university, a deposit on a house or even flying lessons!

If you’d like to be one of the first to hear more about this innovative new product all you have to do is sign up below.

By signing up you agree to receive further information on this product. We promise we won’t spam you or sell on your data and you will be able to unsubscribe should you change your mind.

Information about the Friends and Family Junior ISA

Important Information about the Friends & Family Junior ISA:

  • Available to children aged under 18 – if your child already has a Child Trust Fund then they could transfer this to a Junior ISA.
  • Invests in our With Profits fund & is classed as a Stocks & Shares ISA.
  • It is important to remember that the investment performance of the ISA will depend on the performance of the Society’s With Profits fund, its expenses and other factors.
  • If you transfer the account before your child reaches the age of 18 you might get back less than you paid in, but if the account stays with us and is withdrawn on the child’s 18th birthday then we will pay back everything that has been invested, including any bonuses that may have been added to the account.
  • Tax treatment might change in the future.
  • Anything paid into the account is classed as a gift to the child and cannot be repaid. The account must stay open until the child is 18 and there can be no withdrawals until then. However, once your child reaches the age of 18 they are free to use the money in the account as they please. Full details are contained within the Key Features document which should be read before applying. This will be sent with your Information Pack.

Please Note: You must confirm you have read the key facts, before downloading this document.

Key Facts about our services and costs

1. The Financial Conduct Authority (FCA)

The FCA is the independent watchdog that regulates financial services. This document is designed by the FCA to be given to consumers buying certain financial products. You need to read this important document. It explains the service you are being offered and how you will pay for it.

2. Whose products do we offer?

We offer products from the whole market

We only offer products from a limited number of companies

We only offer our own products

3. Which service will we provide you with?

We will advise and make a recommendation for you after we have assessed your needs.

You will not receive advice or a recommendation from us. We may ask some questions to narrow down the selection of products that we will provide details on. You will then need to make your own choice about how to proceed.

We will provide basic advice on a limited range of stakeholder products and in order to do this we will ask some questions about your income, savings and other circumstances but we will not:

  • conduct a full assessment of your needs;
  • offer advice on whether a non-stakeholder product may be more suitable.

We can only offer products from Kingston Unity Friendly Society. These products will enable you to:

  • protect yourself and your loved ones in the event of death
  • save and invest with the added benefit of protecting yourself and your loved ones in the event of death
  • provide benefit cover in the event of sickness

4. What will you have to pay us for our services?

Normally, if you buy a financial product direct from us, there will be no payments such as commission or fees payable. If there are any commission or fees payable, we will tell you how we get paid and the amount before we carry out any business for you.

5. Who regulates us?

Kingston Unity Friendly Society, 9 Navigation Court, Calder Park, Wakefield, WF2 7BJ is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and .the Prudential Regulation Authority. Kingston Unity Friendly Society’s FCA Registered Number is 110056.

Kingston Unity Friendly Society permitted business is advising and arranging life assurance and pensions business.

You can check this on the FCA’s Register by visiting the FCA’s website www.fsa.gov.uk/register or by contacting the FCA on 0845 606 1234.

6. What to do if you have a complaint

If you wish to register a complaint, please contact us:
…in writing Write to Kingston Unity Friendly Society, Complaints Department, 9 Navigation Court, Calder Park, Wakefield, WF2 7BJ. …by phoneTelephone (01924) 240164

If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.

7. Are we covered by the Financial Services Compensation Scheme (FSCS)?

We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim.

Most types of insurance business are covered for 90% of the claim with no upper limit.