You may have read about
changes to our product offering. Please see the below to help
answer any queries that you may have about this.
Our With-Profits business
New With-Profits plans
As part of our on-going management of the
With-Profits business, and after much consideration, we have
concluded that it is in the best interests of our existing
planholders to stop writing new With-Profits plans and to therefore
close both our main fund and Boots fund to new with-profits business.
Existing With-Profits plans
If you have a With-Profits plan with The
Children’s Mutual, we will continue to take money into the plan,
and please be assured that we will keep on actively managing your
investment on your behalf. We expect to continue with the current
investment policy, which is explained further in the in the
Questions & Answers (Q&As) document below.
As well as the above, we will be proceeding
with the merger of the Boots Fund with our main fund.
By implementing these changes, we believe that
the cost of managing our With-Profits business should be reduced.
Ultimately this may enable The Children’s Mutual to share out
surplus assets which could then add to the value of customers plans
through additional bonuses.
The Children’s Mutual continues to explore
appropriate new products and services to offer families and intend
to share more information about any such new products and services
that may be relevant to you, in due course. In offering such
products and services our aim will always be to protect the
interests of our members and With-Profits planholders in
particular.
Further information is provided in the
Q&As below, which also explains the options available to
customers, although no action is required at this time.
If you have a With-Profits plan with us, we
will provide you with updated information on the management of our
With-Profits business with your 2011 statement.
Q&As on our
With-Profits Plans
PDF, 278KB (opens a new window)
If you have any further questions about these
changes please call our Customer Services Team on 0845 609
0085. Lines are open Monday to Friday, 9am to
5pm.
Junior ISAs
The Junior ISA is a new tax-efficient savings account for
children who missed out on a Child Trust Fund account.
The aim of the Junior ISAs is to provide parents with a simple
and tax-efficient way to save for their child’s future.
Being the only company to specialise solely in savings and
investments for children we offer a stocks & shares
Junior ISA, designed to help parents achieve a great start in life
for their child.
If your child missed out on a Child Trust Fund account and is
aged under 16, you can apply online for our stocks &
shares Junior ISA for them.
Find out more about Junior ISAs.
Our Child Trust Fund (CTF) accounts
We continue to accept new stakeholder CTFs, and currently look
after more than 900,000 CTF customers.
If you have a Child Trust Fund account with us this will
continue to run as normal. This means that:
- It will continue to benefit from tax
efficient investment.
- Up to £3,600 a year can now be contributed.
- Your child's CTF will continue to run until their
18th birthday.
- They will be able to access their money at 18 and use it to
help with their further education, for example.
If you have a CTF voucher for your child you can still apply for a
stakeholder CTF with us.
If you any other queries about our CTF accounts then please
see our CTF FAQs
or contact
us.