What does Prosperity Savings Plan offer?

If you would like to save regularly with the aim of producing a payout at the end of your chosen term, our Prosperity Savings Plan could be the ideal product for you.

You could use the cash sum to supplement your income, take a dream holiday, help with a child's education or carry out improvements on your home. Whatever you have in mind the Prosperity Savings Plan is a straightforward and affordable way to help reach your goal.

How much can I save?

You can save:

• From as little as £30 per month
• Or any amount up to £100 per month

You can choose a term of either 10 or 15 years

How could my savings grow?

The Prosperity Savings Plan is a with-profits savings plan. This means you'll be sharing in the performance of Scottish Friendly, one of the UK's leading friendly societies.

Because we're a mutual society, we don't have shareholders. Instead, we share out all the profits we make among our policyholders in the form of regular bonuses.

Therefore, provided you keep the premiums up for the full term, you will get back a guaranteed minimum cash sum, on maturity. The guaranteed minimum cash sum which protects a part of the total amount invested, will depend on your age and how much you pay each month. Your Plan grows through the addition of bonuses to this guaranteed minimum cash sum. The bonuses are not guaranteed, but once a bonus is added, it can't be taken away. On maturity, a final bonus, which may comprise a substantial part of the total bonuses added, may also be added. When your plan matures, your cash payout will be completely free of personal taxes under current legislation. That's because any tax on the growth of the fund is automatically deducted.

Your money will be invested in our With Profits Fund, which invests for long-term growth as well as a degree of security in stocks and shares, fixed interest and cash. Also, for added security, life cover is built in. The amount of life cover depends on your age and your monthly premiums and may be subject to medical conditions. You should consider if life cover is appropriate for your financial needs.

Scottish Friendly's past performance record

Compare our returns for yourself:

£50 a month invested over 10 years

£50 a month invested over 15 years

Past performance is not a guide to future performance. Bonus rates and maturity values cannot be given in advance. This plan is a long-term investment with a fixed term, and if you cash in early you may not get back as much as you have paid in. The final value of the plan depends on how much profit we make and how we distribute it. Capital values are not guaranteed with this plan however they are in building society accounts where growth prospects, although not inflation-proof, are more certain and where they benefit from ease of access. Don't forget inflation will reduce the buying power of the values shown here in ten years.

1. Source: Morningstar, UK Savings £2,500+ Investment Net. This is an index which measures the performance of the savings accounts of a number of current and exbuilding societies over 10 and 15 years to 1.8.08. All references to taxation are based upon Scottish Friendly's understanding of current tax law and practice. In particular it must be remembered that the levels and basis of taxation may change.
2. Source: Scottish Friendly. Based on someone aged 40 next birthday at outset paying £50 per month for a policy maturing on 1.8.08.

Apply now

To apply simply click on the Apply Now link to download an application form and read the Key Features. Then complete it and post it to:

Scottish Friendly Assurance, FREEPOST, Glasgow G2 4BR

When you start saving with us, you'll receive a gift. You can chose to receive £15 worth of M&S vouchers or a ladies/gents Sekonda watch. Don't forget to select which gift you would like on your application form.

Or, you can request an information pack to be sent to you in the post. This pack includes further Prosperity Savings Plan information and an application form.

If you apply for this product, for your records, we recommend you print or save a copy of this and any other relevant pages together with a copy of the Key Features.