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At a glance | In detail | Useful Documents | Frequently Asked Questions How much can I pay into a Junior Easy Save? You can opt to pay either annually or monthly by Direct Debit into a Junior Easy Save. Monthly premium options are between £15 & £25 in £1 increments or between £160 & £270 in £10 increments annually. The tax-exempt savings allowances are set by the Government. The limit has remained at £25 per month or £270 per annum for over ten years. What is the minimum length of time I can save into a Junior Easy Save? To qualify for tax exempt status, the Junior Easy Save must run for a minimum of 10 years. What interest rate will I get on a Junior Easy Save? The With Profits Fund does not pay interest. What the child gets back depends on the performance of the underlying investments held in the fund. Investment performance cannot be guaranteed. I’m not the parent/guardian of the child; can I pay the premiums for the child’s policy? Yes, the parent/guardian will control the policy until the child reaches 16 but you don’t have to be the parent/guardian in order to pay the premiums. Can I pay by cheque or standing order? No, engage policies can be funded only by Direct Debit. What happens to the policy once the child reaches 16? Once the child reaches 16, control of the policy will revert to the child and any letters, statements or other communications will be addressed to them. This is in accordance with the Friendly Societies Act 1992 and the Memorandum and Rules of the Society. How do I make changes to a Junior Easy Save, such as change of address? The person who signed the original application (the parent/guardian) has to send their written instructions to: I pay for the plan, how can I change my bank details? To change bank details, contact our customer services team on 0800 169 4321 or send your written instruction to the address above.
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