- Use your Investment ISA allowance to invest tax-free from £20 a month, lump sums from £100, or a combination of both.
- Once you have set up My Sovereign Investment (ISA) you can cash in or raise, lower, stop and restart payments at any time.
- Provided you haven’t made any withdrawals, on the 10th anniversary of the start date of your investment, you are guaranteed to get back at least as much as you have invested.
- Your money will be invested in a My Sovereign Investment (ISA) within a Scottish Friendly ISA which buys units in the Scottish Friendly Unitised With-Profits fund which may include stock market, property, cash and bond assets.
- The ISA allowance for the current tax year is £20,000
- Keep track of your investment online using the Scottish Friendly ‘My Plans’ online service
- Available to Serving, Retired, Ex-Forces, Reserves, Families, Contractors and Support Organisations
My Sovereign Investment (ISA) is provided by Scottish Friendly Assurance Society Limited. Visit our legal page for further details.
What you need to consider
- My Sovereign Investment (ISA) is a medium to long-term investment of at least 5 years and ideally 10. You get a guaranteed cash sum if you cash in on the 10th anniversary of the start date of your investment, or every 5 years after this date. So this includes your 15th, 20th, 25th anniversary and so on.
- You should regularly check your investments are on track by logging into My Plans
- The tax treatment of your ISA depends on your individual circumstances and the levels and basis of taxation may change in the future. This may reduce the amount you get back or increase the amount of tax you pay.
- The amount you will get back from your My Sovereign Investment (ISA) will depend on how much you have paid in, the length of time it has been invested, the investment performance in the fund over this time and the amount of money, if any, you have taken out of your investment.
- As with all investments, it’s important to be aware that the value can go down as well as up, and if you cash in other than on a guarantee point you could get back less than you’ve paid in.
For further information on how the products works please read:
To take out a My Sovereign Investment (ISA) complete an application form via the Forces Mutual team or apply online.
Have a Stocks and Share ISA question?
Here are some frequently asked questions about the My Sovereign Investment (ISA):
What is an ISA?
ISA stands for Individual Savings Account
An ISA allows your savings or investments to grow tax-efficiently. This means that there’s no income tax to pay on the interest that you earn.
You can put a total of £20,000 into an ISA this tax year which starts on the 6 April and ends on the 5 April the following year, this is referred to as your ISA allowance.
How will it work for me?
The My Sovereign Investment (ISA) is a stocks and shares ISA.
It is designed for customers that want to invest monthly or as a lump sum with the view of a medium to long-term investment (5-10 years).
The ISA offers potential growth on investments via the Scottish Friendly Unitised With-Profits fund and combines this with an element of security in that your money is guaranteed when you lock in until the 10th anniversary.
The Key Information Document gives you an overview of each fund and should be read alongside the Product Guide.
Can I access my money if I need to?
Yes, you do have access to your money at all times, but it is important to remember if you withdraw your money at any time other than on a guarantee point, you may get back less than you put in.
Manage your existing My Sovereign Investment (ISA)
These products are arranged and administered by PMGI Limited trading as Forces Mutual, more information is available on our legal page.