Other plans are available to save a monthly amount, with peace of mind, to build your money into a sizeable cash sum after a period of time (typically 10 years). You can usually start from very modest amounts each month.

Some plans offer flexibility, for example, in better days you can increase the monthly savings but, in leaner times, investment can be reduced, suspended or even put on a “contribution holiday” without damaging the prospects of returns on the money already saved. After certain breaks contributions can be re-started.

Single/lump sum investments are also usually permitted (subject to a minimum amount).

Some Plans also incorporate built in life cover for added protection.

Your money is invested in funds of your choice and, as the investment company pays the taxes on its funds, you are able to receive the lump sum, at the end of the term, tax free.

You can choose from many options – the amount you wish to save, whether to save monthly or annually and the term of the plan, to name just a few.

Plans can be on “level”/fixed investment, increasing investment levels and can be arranged for children.

As we continue to remind everyone the value of the investment element of these plans is not guaranteed. It can go up or down depending on performance.