Friendly Society Tax-Free Savings

Money, investing, mutuals etc
patientperson
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Re: Friendly Society Tax-Free Savings

Post by patientperson » Wed Jun 12, 2013 6:44 pm

Al1111 wrote:What's the deal with how many TESPs one can have/fund every month?
I've read max £25/month in total across all TESPs, yet I also see £3,600 mentioned.
The TESP limit is £25pm or £270 per year so one can have more than one Friendly Society provided the total contributions do not exceed the figures stated.

Not sure about the £3600 figure you mention .. it looks to be the maximum amount that one could contribute to a stakeholder pension when no longer working. If that is the case then a personal yearly contribution of about £2.880 is grossed up by the insurance company to £3600.

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Re: Friendly Society Tax-Free Savings

Post by pabenny » Thu Jun 13, 2013 6:00 am

planteria wrote:& you mean a unit trust tracker, via a stockbroker?
You can go directly to the providers - eg Virgin Money or Legal & General. No need to go to a broker unless you like paying fees.

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Re: Friendly Society Tax-Free Savings

Post by patientperson » Tue Sep 24, 2013 8:50 am

This is a Daily Telegraph (June 2013) perspective on Friendly Societies which throws up some interesting returns and even more important there is an IFA showing enthusiasm for TESPs.

There was an attempt by Friendly Societies to increase their existing TESP levels but that seems to have fallen on deaf ears at the Treasury.

http://www.telegraph.co.uk/finance/p...-tax-free.html

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Re: Friendly Society Tax-Free Savings

Post by planteria » Tue Sep 24, 2013 10:03 am

link doesn't work pp

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Re: Friendly Society Tax-Free Savings

Post by patientperson » Tue Sep 24, 2013 10:27 am

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Re: Friendly Society Tax-Free Savings

Post by planteria » Tue Sep 24, 2013 11:19 am

yes pp.....just seen it on the other forum :thumbup:

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Re: Friendly Society Tax-Free Savings

Post by planteria » Thu Feb 11, 2016 6:59 pm


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Re: Friendly Society Tax-Free Savings

Post by patientperson » Fri Feb 12, 2016 8:55 am

Interesting story .. back to 2008 where many of the mentioned FS are long gone. I am not sure I agree with the concept of some FS coming together to achieve economies of scale and overcome government legislation. If they merge then all well and good but we do not need a whole raft of directors doing very little for their remuneration packages.
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Re: Friendly Society Tax-Free Savings

Post by planteria » Mon Oct 17, 2016 10:51 am

more mergers would mean [relatively] fewer Directors, pp :shifty:

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