Maturing Trust Funds

If you are soon to turn 18 and we look after your CTF account, you should have received some information from us letting you know that your account will soon mature. When this happens, you will be able to decide what you want to do with your money.

If your CTF account is with another provider and you are considering transfer your money to us, you can find more details of your transfer options here.

What are my options?

Here we’re outlining the choices you have when it comes to accessing the money from your Kingston Unity CTF account and what you need to do once you’ve made your decision.

You may already have an idea about what you want to do and the options here may just help you confirm that. Or you may have no idea, and these options can help give you further clarification about the decision you need to make and what further research to do or what to talk to someone about.

Option 1.

Withdraw all my money

You may already have plans for what you want to do with the money and need it all now to make those plans happen.

Option 2.

Transfer all my money to an adult ISA

Perhaps your plans are a little more long term and you don’t need immediate access to your money. If this is the case, and you want to keep saving into a tax-free product, you can choose to transfer the money into an adult ISA. This could be with us or another provider.

Option 3.

A bit of both

Perhaps you're torn over what to do or you don't need all of the money immediately. If this is the case, you can choose to withdraw some of the money and transfer the rest to an ISA to keep saving for the future.

It's important to remember you have to decide what to do with ALL the money. You can't leave any in your CTF account.

Already know what you want to do?

What happens if you do nothing or we don’t hear from you in time?

It’s important you make the right choice for you, so please take your time to understand your options and don’t feel you need to rush your decision. Whilst we’ve tried to give you plenty of time to think about this and make your decision, if you haven’t done this by your 18th birthday, or allowed enough time for your request to be carried out, your money will transfer automatically in to a matured CTF account.

This will still be your money and you will still be able to access it and have the same choices about what to do with it, but you will no longer be able to pay money into this account.

Find out more

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.