Wesleyan's Flexible Savings Plan is an easy-to-manage investment, offering a variety of fund and payment options.
- Invest with a mix of regular and one-off payments
- Choose from 14 funds, and switch at any time
- Grow your investment from as little as £100 per month
- Can be used in combination with a trust
How does our Flexible Savings Plan work?
With the Flexible Savings Plan, you can invest in up to 12 diversified investment funds from a choice of 14 - including our flagship With Profits Fund.
While the funds are managed by our in-house team, you control your investment. You can move your money into one or more funds at any time, making up to 12 switches in a 12-month period (switching fees may apply).
Bear in mind the value of investments and any income can go down as well as up and you may get back less than you invest.
Investment Team of the Year 2023
Our Investments Team was named Investment Team of the Year at the Insurance Asset Risk Awards 2023. When you invest with Wesleyan, you can be confident your money is in safe hands.
How to start a Flexible Savings Plan
To open your Flexible Savings Plan, you’ll need to set-up a regular payment of £100 per month or more. You can increase that payment later if you wish, and you can also make lump-sum top ups of £500 or more at any time.
Bear in mind that if you'd prefer investing a lump sum to monthly payments, it might be worth looking at the Capital Investment Bond.
If you want to explore the other investment options available to you, speak to your Specialist Financial Adviser from Wesleyan Financial Services. They can help you to decide what products align to both your current financial situation and long-term goals. Charges may apply.
Key details about the Flexible Savings Plan
Holding your investment in trust
The Flexible Savings Plan can be held in trust, to make sure your plan is treated the way you would wish when you die. This can help with estate management and Inheritance Tax planning.
It can also be a way to control how and when your assets are used by beneficiaries. For example, if you plan to leave an investment behind for your children.
For more information on trusts, please speak to a Specialist Financial Adviser from Wesleyan Financial Services.
Inheritance Tax planning is not regulated by the Financial Conduct Authority.
The Flexible Savings Plan as Life cover
The Flexible Savings Plan can provide a small amount of life cover. It can be taken out alone or as a joint plan covering the lives of two people.
We will pay out 101% of the plan's value when you die, or, if it’s a joint plan, when both people covered by the plan die.
Your money's available, if you need it
The Flexible Savings Plan is designed for medium to long-term investment, so you should be prepared to invest for at least five years.
That said, you can take money out if you need to, without any exit fees. You can take out £500 or more at any point, as long as you leave at least £500 invested in the plan.
Are you eligible for a Flexible Savings Plan?
You can take out a Flexible Savings Plan if you are aged 18 or over and are a UK resident for tax purposes.
The maximum age for taking out a plan is 74, but if you take the plan out jointly, only one of you needs to be 74 or under.
The Flexible Savings Plan can be held in trust, to make sure your plan is treated the way you would wish when you die. This can help with estate management and Inheritance Tax planning.
It can also be a way to control how and when your assets are used by beneficiaries. For example, if you plan to leave an investment behind for your children.
For more information on trusts, please speak to a Specialist Financial Adviser from Wesleyan Financial Services.
Inheritance Tax planning is not regulated by the Financial Conduct Authority.
The Flexible Savings Plan can provide a small amount of life cover. It can be taken out alone or as a joint plan covering the lives of two people.
We will pay out 101% of the plan's value when you die, or, if it’s a joint plan, when both people covered by the plan die.
The Flexible Savings Plan is designed for medium to long-term investment, so you should be prepared to invest for at least five years.
That said, you can take money out if you need to, without any exit fees. You can take out £500 or more at any point, as long as you leave at least £500 invested in the plan.
You can take out a Flexible Savings Plan if you are aged 18 or over and are a UK resident for tax purposes.
The maximum age for taking out a plan is 74, but if you take the plan out jointly, only one of you needs to be 74 or under.
What you need to know before investing
Initial Advice Charge
When you take out this product following advice from Wesleyan Financial Services, an Initial Advice Charge of 3% is deducted from each payment to pay for providing that advice.
Annual Management Charge
An Annual Management Charge (AMC) applies, the percentage of which depends on the fund or funds that you invest in. Find out more in the fund factsheets.
If you opt into Wesleyan Financial Services' Ongoing Advice Service (OAS), the cost is 0.5% of your plan value each year. We may also charge you for switching between funds. The first switch each year is free.
Ongoing Charges
Some Wesleyan funds invest in the funds of third-party fund managers. For these, an Ongoing Charge Figure (OCF) is applied by these managers to cover their cost of managing the fund. These charges are disclosed on fund factsheets.
Key documents
Please read the following documents before applying.
For details of the tax treatment of the Flexible Savings Plan, refer to the Key Features Document:
Key Features Document (PDF, 463KB)
Plan Document including Terms and Conditions (PDF, 323KB)