Friends & Family Junior ISA Help them soar

Transcription

1 Friends & Family Junior ISA Help them soar

2 Here for everyone Kingston Unity is a Friendly Society. We re totally different to banks, because we re owned by our members. We re run for the benefit of you, and your family, not for shareholder profit. We ve helped hundreds of thousands of members, their children and grandchildren, to make more of their money with tax-efficient savings and investments. We ve been looking after our members money and best interests since We re financial friends for life. You ll find this document helpful because it includes really useful information about our Friends and Family Junior ISA. Please read this along with the Key Information Document and the Terms and Conditions before you apply for this savings account. 2

3 Friends & Family Junior ISA Whether you re young or want to help a youngster save tax-free, take a look into our Friends and Family Junior ISA which has all these fantastic benefits for parents and young account holders: Safe Application - Apply securely online in a few minutes. Easy payments in - Online you can pay in one off gifts or set up a Direct Debit for a regular amount. Anyone can pay in - Let friends and family pay in online using a unique link. Personal messages - Leave a message when you add to their savings like Happy Birthday Grandson. Ultimate goals - Visible savings goals so anyone paying in can see what they re saving for. Low to Medium risk fund - A With Profits Fund that guarantees all contributions and bonuses are paid out when it matures. Because kids have a tax-free allowance, too Happy 18 th Birthday! Let s Celebrate. When the Account Holder hits 18 all the money saved, plus any bonuses, becomes available for them to take or reinvest. They will also receive all the messages left by their Friends and Family - lovely to be read out at a party. We ve made tax-free saving child s play This Junior ISA aims to meet the demands and needs of a child who does not qualify for a Child Trust Fund or hold a Junior ISA with another provider where friends and family wish to save on their behalf regularly or ad-hoc until they reach the age of 18. As Kingston Unity is not able to provide advice, the information provided is there for you to make an informed decision about this product. We are unable to determine if the Junior ISA is appropriate for you, so if you are unsure of its suitability, please speak to an Independent Financial advisor (IFA). You may be charged for this advice. 3

4 Your questions answered 1. What sort of Junior ISA is this? Our Friends and Family Junior ISA is a Stocks and Shares Junior ISA, where your child s savings will be invested in our With Profits Fund. This gives a low to mediumrisk return and aims to achieve higher returns than a cash fund, whilst offering a guarantee to the member. See Q10. A child can only hold one stocks and shares Junior ISA along with one cash Junior ISA. Alternatively, they can have one Child Trust Fund (CTF), however, you can transfer an existing Junior ISA or CTF into our Junior ISA. 3. Is it easy to apply? Yes. If you re opening your first Junior ISA simply apply online at ffjisa.co.uk If you prefer a paper application form, you can download one from our website or contact us at enquiries@kingstonunity.co.uk or on Your details Name Last name Message Payment schedule Share information 2. Who can open a Junior ISA? SUBMIT Under 16? A parent or guardian, with parental responsibility, needs to open the account. 16 to 17? You re free to open your own account. Whoever opens the account will be the Registered Contact for the account. When they hit 16, the child can apply to become the Registered Contact. The child must be a UK resident at the time of opening the account. 4. Can I transfer another JISA or a CTF into this JISA? Yes you can, though a child can only hold one stocks and shares Junior ISA and one cash Junior ISA OR one CTF. To transfer, simply contact us for an application form at enquiries@kingstonunity.co.uk or call

5 5. How can everyone pay into the Friends and Family Junior ISA? That s easy. Once the Junior ISA is open, the Registered Contact is given access to an online dashboard. There they can set up a regular payment by Direct Debit or make a payment using a debit card. A Share button lets the Registered Contact send a secure link to friends and family so they can make payments into the account. They can leave a message with every payment for the child, allocating the money to a named savings pot. This gives an idea how they d like the money to be spent, however, the child has the ultimate choice when they receive the money. Only the Registered Contact and account holder (if different) can see the payments in and messages left for the child. We cannot refuse any payments made into the account, unless the government annual limit has been reached. Cheques can be accepted by post but must have the account holder s name and account number on the back. All payments made into this account are gifts to the child and can t be returned to the payer. 6. How much can I invest in a Junior ISA? The Government sets the maximum limit for investment into a Junior ISA within a tax year. You ll find this on our website. This maximum limit can be split between a cash and stocks and shares Junior ISA, or all paid into one. We accept regular payments of 5 or more per month and one-off payments from 10 up to the Government s annual maximum limit. continued... 5

6 7. Can I stop or change my payments? Yes. You re free to stop, start or change your payments at any time. 8. Can I change my mind? Certainly. In fact, you ve 30 days to change your mind, just complete and return your cancellation notice. For new applications, a refund of any payments in to the account will be made. For transfers, we don t request the funds from your current provider until the cancellation period has ended. 9. Can I withdraw from the Junior ISA? No. Nothing can be withdrawn from the account until the child s 18 th birthday. 10. Are there any bonuses or guarantees? Yes, both. Our Junior ISA guarantees everything paid into it, plus all bonuses declared on it, on the child s 18 th birthday. Bonuses are declared at the end of each year and depend upon the performance of the with profits fund. This is called a reversionary bonus and once declared it can t be removed. As a Friendly Society, we ensure all our members receive a fair share of any investment returns. Therefore we regularly check that you have the correct bonuses to achieve this and if appropriate we may add a Final (Terminal) Bonus to any withdrawals when made. Please see our Guide to the With Profits Fund for more information. 11. How will I know what the account is worth? We ll send out annual statements to the Registered Contact with details of any payments and bonus added throughout the previous year. You can also log onto your account dashboard to check the current balance. 6

7 12. Are there any charges? To cover the expenses of running the society, we currently charge 1.5% of the policy value which is reviewed each year. The charges will be taken out of the investment returns before we declare a bonus. 13. What if the child dies or is diagnosed as terminally ill? 15. What happens when they re 18? We ll contact the child before their 18 th birthday to let them know their options. They can keep the tax-free status as the account rolls into an Adult ISA or if they wish to withdraw the funds, they ll need to apply to the society within 7 days of their 18 th birthday. We may ask them for ID before any payments are made. We ll pay out 101% of the value of the Friends and Family Junior ISA in the tragic event of death or diagnosis of a terminal illness. 14. Can I close or transfer my child s Junior ISA elsewhere? You can t close this account before the child s 18 th birthday. You can, however, transfer to another provider whenever you wish. Please contact your new provider if you would like to transfer. Depending on the investment returns at the time of transfer, a Market Value Reduction (MVR) may be applied to the account. Please see our Guide to the With Profits Fund for a full explanation. 7

8 Other important information Tax liability Under current legislation any money received from this Junior ISA will be free of tax and doesn t need to be declared on a tax return. Tax legislation may change in the future. If you re in any doubt, please take advice from a professional tax Adviser you may be charged for this advice. Fees paid If you re opening our Junior ISA through a Financial Adviser they ll let you know if there are any charges or fees payable to them. If you ve been introduced by an Introducer Appointed Representative (IAR), we may pay them a fee. Don t worry, this won t be deducted from your Junior ISA. An IAR is not qualified to give you advice about which product to apply for. Law and legislation In legal disputes the law of England and Wales will apply. It s possible that legislation affecting this Junior ISA may change in the future. This may affect the benefits or conditions of the product. Anti-money laundering The child will need to produce relevant documents to prove their identity in order to withdraw the funds when they re 18. Data protection Kingston Unity collects your personal information when you apply for a product with us. We use this information to set up and manage the product you have applied for. Please see our Privacy Notice for more information explaining how we use your personal information. Find out more at enquiries@kingstonunity.co.uk kingstonunity.co.uk Kingston Unity is a trading name of Kingston Unity Friendly Society Limited, 9 Navigation Court, Calder Park, Wakefield, WF2 7BJ. The Society is registered and incorporated under the Friendly Societies Act 1992, registered number 775F and is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, firm reference number /003

9 Friends & Family Junior ISA Terms & Conditions The following Terms & Conditions explain how our Friends & Family Junior ISA will be managed and sets out both your rights and ours. Please make sure you read this document carefully as it contains information you need to know. In this document, where we say You or Your then this means the insured member of the Society who owns this Friends & Family Junior ISA or the Registered Contact on behalf of the child. Where we say either We, Us, Our or the Society then this refers to Kingston Unity Friendly Society. 1. Eligibility / opening the Junior ISA Anyone aged under 18 who is a UK resident for tax purposes Who does not already have a Child Trust Fund (CTF) or another Stocks & Shares Junior ISA elsewhere. If they do, then you can apply to transfer it to our Junior ISA. If your Junior ISA has or will become void because of any failure to meet the Regulations that we are aware of then we will inform you. If you believe you have broken any regulations (i.e by opening two Junior ISAs of the same type), you must contact the HMRC Savings helpline on You can apply online or download an application pack at ffjisa.co.uk. Alternatively, you can contact us to request a paper application form. A deposit will need to be made in order to open the account. See the Paying in section for details. 2. Your right to cancel You have 30 days from the date you receive the cancellation notice to cancel. A full refund of any payments made into the account will be made. If you are transferring in to us, then we don t request the funds from your current provider until the cancellation period has ended. 3. Ownership / Registered Contact If a child is under 16 then a parent or guardian, with parental responsibility, must open the account and will be the Registered Contact. The account will be in the child s name, but the Registered Contact will be responsible for managing it, when the child turns 16 they can apply to become the Registered Contact. 16 and 17 year olds can open their own account. Once the account holder turns 18 then the account will roll over into an adult ISA and the Terms & Conditions of the Adult ISA will then apply. The account cannot be assigned to anyone else and cannot be used as security for a loan. 4. Transferring to us You can transfer a Cash Junior ISA, a Stocks & Shares Junior ISA or a CTF account held in your child s name. You must be the account holder or Registered Contact on the account you are requesting to transfer to us. To transfer an existing JISA simply complete the transfer section of the application form. To transfer an existing CTF, please contact us for a transfer application form. 5. Transferring to another provider You can transfer to another Junior ISA provider at any time, you will need to contact the new provider to arrange this for you. Once we receive a valid instruction from your new provider we will carry out this transfer within 30 days. Depending on the performance of investment returns then a MVR may be applied if you transfer to another provider before the child s 18 th birthday. 6. Paying in Anyone can pay into the account. We accept regular payments of 5 or more per month and one-off payments from 10 up to the annual limit set by the Government. Current limits are available on our website. We cannot refuse payments made into the account, unless the Governments annual limit has been reached. We accept payments by Direct Debit, Debit Card, Bank Transfer and cheques. All payments made into the account are classed as gifts to the child and cannot be returned to the payer. Friends & Family Junior ISA Terms & Conditions 1

10 Friends & Family Junior ISA Terms & Conditions 7. Withdrawals or closures You can t take money out or close the Junior ISA until the account holder is 18. The only exception is if the child becomes terminally ill or dies: Terminal Illness: If the child is diagnosed with a terminal illness, you may be able to make withdrawals from the account you ll need the permission of HMRC to do this. Please contact us if this happens. Death: If the child dies, please let us know. We won t be able to accept any more payments into the account and the balance will become part of the child s estate. The Society will pay the greater of 101% of the total contributions paid to date or the value of the account at the time of receiving notification of the death of the child. 8. Market Value Reduction (MVR)* An MVR may be applied if you transfer to another provider before the child s 18 th birthday either as a full or partial transfer. 9. Child s 18 th birthday / Guarantees / MVR free dates* We guarantee to pay out the value of the account (including all contributions paid plus any bonuses declared) on the child s 18 th birthday if they withdraw within 7 days. Depending on the investment returns at the time, any withdrawals made after this date may be subject to a MVR. We will contact the child before their 18 th birthday with their options. They can keep the tax free status as the account rolls into an Adult ISA or they can withdraw their funds without an MVR during the 7 day guarantee period: 10. Bonuses* To enable the Actuary to identify what portion of the With Profits fund is allocated to the account, for each pound paid in, the account will be allocated one unit. This helps the Society to allocate bonuses and ensure that the child receives their fair share of the value of the With Profits fund when they withdraw or transfer their investment. A Reversionary Bonus is added annually and is calculated by the Actuary for the Society and agreed by Board of Management. This reflects the smoothed performance of the With Profits fund after allowing for the level of guarantees within the fund. It will also reflect an allowance for expenses as a percentage of funds under management. Once the net rate is announced and has been added to the account it can t be removed. The bonus will be added as a percentage to the value of the initial investment plus any bonuses added to the account less any withdrawals made. An interim Reversionary Bonus is announced at the same time and is applied to accounts that are closed before the next Reversionary Bonus is announced. This rate is not guaranteed and can be changed or reversed at any time by the Board in its absolute discretion. The Board may declare, from time to time, a Final Bonus which would increase the value of the account payable on death, on transfer or on closure. 11. Charges We aim to charge a fair share of our expenses to each account holder and we can decrease or increase charges made on the account. At present we expect to charge 1.5% of the funds under management. 12. Voting rights and attending the AGM As a member of the Society the account holder, if they are aged 16 or over has the right to attend and vote at the Society s AGM. To do this, you must first apply to become a delegate. Anyone under the age of 16 is not able to attend and vote at the AGM, however the Registered Contact for their account can apply to become a delegate and will have the same voting rights as any member. * Please see our Guide to the With Profits Fund for more information which can be found at kingstonunity.co.uk/withprofits Find out more at enquiries@kingstonunity.co.uk ffjisa.co.uk Kingston Unity is a trading name of Kingston Unity Friendly Society Limited, 9 Navigation Court, Calder Park, Wakefield, WF2 7BJ. The Society is registered and incorporated under the Friendly Societies Act 1992, registered number 775F and is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, firm reference number /008 Friends & Family Junior ISA Terms & Conditions 2

11 Key Information Document Friends & Family Junior ISA Regular payment Purpose This document provides you with key information about this investment product. It is not marketing material. The information is required by law to help you understand the nature, risks, costs, potential gains and losses of this product and to help you compare it with other products. Product The Friends and Family Junior ISA is manufactured by Kingston Unity Friendly Society Limited. For more information visit kingstonunity.co.uk or call The Financial Conduct Authority (FCA) is the competent authority of Kingston Unity. This Key Information Document (KID) was produced on 12 December What is this product Type Objectives With Profits Junior ISA To enable you to save or invest tax free, in a range of assets, to build up a lump sum with low to medium risk, with the aim of outperforming deposit based accounts. The With Profit fund in which your contributions are invested in invests in a range of assets such as equities, property, fixed interest and cash. The return on your investments is dependent on the performance of the With Profit fund as well as any expenses incurred by the Society and other factors such as the number of accountholders dying and cashing in their account. Your investment return is added to your account in the form of bonus which is determined in conjunction with the Actuary. Intended retail investor Insurance benefits UK resident children aged under 18 who are not eligible for a Child Trust Fund, or who have a Child Trust Fund to transfer into a Junior ISA. Individuals with parental responsibility for an eligible child aged up to 15. Eligible individuals aged 16 or 17 who wish to save or invest tax free until at least their 18th birthday. If the accountholder dies before the maturity date (i.e. before they reach 18 years of age) then 101% of value of the ISA at the date of death will be paid to their estate. The value of the benefits can be found below in the section What are the risks and what could I get in return. We accept regular payments by Direct Debit from 5 per month and one-off payments from 10 up to the Government s maximum limit per tax year. The Government sets the maximum limit for investment into an ISA within a tax year. You ll find the current limits on our website. Further information The maturity date of this product is the 18th birthday of the accountholder. No withdrawals are allowed until the child reaches the age of 18 when the ISA will be accessible by the child only. The only potential exception is upon the diagnosis of a terminal illness. Kingston Unity is not entitled to unilaterally terminate this product What are the risks and what could I get in return? Risk Indicator Lower risk Higher risk The risk indicator assumes you keep the product for 15 years. The summary risk indicator is a guide to the level of risk of this product compared to other products. It shows how likely it is that the product will lose money because of movements in the markets or because we are not able to pay you. We have classified this product as 3 out of 7, which is a medium-low risk class. This rates the potential losses from future performance at a medium-low level, depending on the performance of investment returns then a Market Value Reduction (MVR) may be applied if you transfer to another provider before the child s 18 th birthday. We guarantee to pay out the value of the account (including all contributions paid plus any bonuses declared) on the child s 18 th birthday if they withdraw within 7 days. Depending on the investment returns at the time, any withdrawals made after this date may be subject to a MVR. continued overleaf... Friends & Family Junior ISA (Regular payment) Key Information Document 1

12 Performance Scenarios The table below shows the money you could get back over the next 15 years, under different scenarios, assuming that you invest 1,000 each year. The scenarios shown illustrate how your investment could perform. You can compare them with the scenarios of other products. The scenarios presented are an estimate of future performance based on evidence from the past on how the value of this investment varies and are not an exact indicator. What you get back will vary depending on how the market performs and how long you keep the product. The stress scenario shows what you might get back in extreme market circumstances, and it does not take into account the situation where we are not able to pay you. The figures shown include all the costs of the product. The figures do not take into account your personal tax situation, which may also affect how much you get back. Investment: 1,000 (each year) Scenarios 1 Year 7.5 years 15 Years Recommended holding period Stress scenario Unfavourable scenario Moderate scenario Favourable scenario What you might get back after costs ( ) 950 7,238 15,340 Average return each year (%) -5.00% -2.23% 0.28% What you might get back after costs ( ) 9,50 9,191 21,044 Average return each year (%) -5.00% 3.08% 4.12% What you might get back after costs ( ) 1,035 10,458 25,092 Average return each year (%) 3.50% 5.93% 6.20% What you might get back after costs ( ) 1,035 11,896 29,878 Average return each year (%) 3.50% 8.77% 8.21% Accumulated invested amount 1,000 7,500 15,000 What happens if Kingston Unity Friendly Society Limited is unable to pay out? The Society is covered by the Financial Services Compensation Scheme (FSCS). If we cannot meet our obligations, you may be entitled to compensation from the scheme. Circumstances vary, but most types of investment business are covered up to 50,000. Further information about compensation arrangements is available from the FSCS website or by calling What are the costs? The Reduction in Yield (RIY) shows what impact the total costs you pay will have on the investment return you might get. The total costs take into account one-off, ongoing and incidental costs. The amounts shown here are the cumulative costs of the product itself, for three different holding periods. The figures assume you invest 1,000 each year. The figures are estimates and may change in the future. Costs over time Investment: 1,000 (each year) Scenarios If you cash in after 1 Year If you cash in after 7.5 Years If you cash in after 15 Years Total costs ( ) ,955 Impact on return (RIY) per year (%) 0.00% 1.68% 1.69% continued overleaf... Friends & Family Junior ISA (Regular payment) Key Information Document 2

13 Composition of costs The table below shows: the impact each year of the different types of costs on the investment return you might get at the end of the recommended holding period; the meaning of the different cost categories. This table shows the impact on return per year One off costs Entry costs Nil This product does not charge any entrant costs. Exit costs Nil This product does not charge any exit costs. Portfolio transaction costs 0.05% The impact of the costs of us buying and selling underlying investments for the product. Ongoing costs Insurance costs Nil This product does not charge any insurance costs. Other ongoing costs 1.64% The impact of the costs that we take each year for managing your investments. Incidental costs Performance fees Nil This product does not charge any performance fees. Carried interests Nil This product does not charge any carried interests. How long should I hold it and can I take money out early? Recommended holding period: 15 years The recommended holding period has been selected to enable investors to benefit from long term growth whilst avoiding short term volatility. You can t take money out before the accountholder s 18 th birthday, and on their 18 th birthday they have full control of their Junior ISA. How can I complain? To make a complaint about our products or our conduct, contact us with your full name and address, your account number and details of your complaint. More information can be found at: kingstonunity.co.uk You can submit your complaint via post to Complaints Department, Kingston Unity Friendly Society Limited, 9 Navigation Court, Calder Other relevant information Additional information about the product and policy conditions can be found in our Product Guide and Terms & Conditions and are available on our website. Kingston Unity is a trading name of Kingston Unity Friendly Society Limited, 9 Navigation Court, Calder Park, Wakefield, WF2 7BJ. The Society is registered and incorporated under the Friendly Societies Act 1992, registered number 775F and is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, firm reference number /003 Friends & Family Junior ISA (Regular payment) Key Information Document 3

14 Key Information Document Friends & Family Junior ISA Single payment Purpose This document provides you with key information about this investment product. It is not marketing material. The information is required by law to help you understand the nature, risks, costs, potential gains and losses of this product and to help you compare it with other products. Product The Friends and Family Junior ISA is manufactured by Kingston Unity Friendly Society Limited. For more information visit kingstonunity.co.uk or call The Financial Conduct Authority (FCA) is the competent authority of Kingston Unity. This Key Information Document (KID) was produced on 12 December What is this product Type Objectives With Profits Junior ISA To enable you to save or invest tax free, in a range of assets, to build up a lump sum with low to medium risk, with the aim of outperforming deposit based accounts. The With Profit fund in which your contributions are invested in invests in a range of assets such as equities, property, fixed interest and cash. The return on your investments is dependent on the performance of the With Profit fund as well as any expenses incurred by the Society and other factors such as the number of withdrawals and closures. Your investment return is added to your account in the form of bonus which is determined in conjunction with the Actuary. Intended retail investor UK resident children aged under 18 who are not eligible for a Child Trust Fund, or who have a Child Trust Fund to transfer into a Junior ISA. Individuals with parental responsibility for an eligible child aged up to 15. Eligible individuals aged 16 or 17 who wish to save or invest tax free until at least their 18 th birthday. Insurance benefits If the account holder dies before the maturity date (i.e. before they reach 18 years of age) then 101% of value of the ISA at the date of death will be paid to their estate. The value of the benefits can be found below in the section What are the risks and what could I get in return. We accept regular payments by Direct Debit from 5 per month and one-off payments from 10 up to the Government s maximum limit per tax year. The Government sets the maximum limit for investment into an ISA within a tax year. You ll find the current limits on our website. Further information The maturity date of this product is the 18 th birthday of the accountholder. No withdrawals are allowed until the child reaches the age of 18 when the ISA will be accessible by the child only. The only potential exception is upon the diagnosis of a terminal illness. Kingston Unity is not entitled to unilaterally terminate this product What are the risks and what could I get in return? Risk Indicator Lower risk Higher risk The risk indicator assumes you keep the product for 15 years. The summary risk indicator is a guide to the level of risk of this product compared to other products. It shows how likely it is that the product will lose money because of movements in the markets or because we are not able to pay you. We have classified this product as 3 out of 7, which is a medium-low risk class. This rates the potential losses from future performance at a medium-low level, depending on the performance of investment returns then a Market Value Reduction (MVR) may be applied if you transfer to another provider before the child s 18 th birthday. We guarantee to pay out the value of the account (including all contributions paid plus any bonuses declared) on the child s 18 th birthday if they withdraw within 7 days. Depending on the investment returns at the time, any withdrawals made after this date may be subject to a MVR. continued overleaf... Friends & Family Junior ISA (Single payment) Key Information Document 1

15 Performance Scenarios The table below shows the money you could get back over the next 15 years, under different scenarios, assuming that you invest 10,000. The scenarios shown illustrate how your investment could perform. You can compare them with the scenarios of other products. The scenarios presented are an estimate of future performance based on evidence from the past on how the value of this investment varies and are not an exact indicator. What you get back will vary depending on how the market performs and how long you keep the product. The stress scenario shows what you might get back in extreme market circumstances, and it does not take into account the situation where we are not able to pay you. The figures shown include all the costs of the product. The figures do not take into account your personal tax situation, which may also affect how much you get back Investment: 10,000 Scenarios Stress scenario Unfavourable scenario Moderate scenario Favourable scenario 1 Year 7.5 years 15 Years Recommended holding period What you might get back after costs ( ) 7,000 6,027 10,550 Average return each year (%) % -6.13% 0.36% What you might get back after costs ( ) 9,500 13,276 19,178 Average return each year (%) -5.0% 3.61% 4.44% What you might get back after costs ( ) 10,350 16,086 25,049 Average return each year (%) 3.50% 6.12% 6.31% What you might get back after costs ( ) 10,350 19,441 32,282 Average return each year (%) 3.50% 8.66% 8.13% What happens if Kingston Unity Friendly Society Limited is unable to pay out? The Society is covered by the Financial Services Compensation Scheme (FSCS). If we cannot meet our obligations, you may be entitled to compensation from the scheme. Circumstances vary, but most types of investment business are covered up to 50,000. Further information about compensation arrangements is available from the FSCS website or by calling What are the costs? The Reduction in Yield (RIY) shows what impact the total costs you pay will have on the investment return you might get. The total costs take into account one-off, ongoing and incidental costs. The amounts shown here are the cumulative costs of the product itself, for three different holding periods. They include potential early exit penalties. The figures assume you invest 10,000. The figures are estimates and may change in the future. Investment: 10,000 Scenarios If you cash in after 1 Year If you cash in after 7.5 Years If you cash in after 15 Years Total costs ( ) 0 2,185 6,694 Impact on return (RIY) per year (%) 0.00% 1.70% 1.69% continued overleaf... Friends & Family Junior ISA (Single payment) Key Information Document 2

16 Composition of costs The table below shows: the impact each year of the different types of costs on the investment return you might get at the end of the recommended holding period; the meaning of the different cost categories. This table shows the impact on return per year One off costs Entry costs 0.00% This product does not charge any entrant costs. Exit costs 0.00% This product does not charge any exit costs. Portfolio transaction costs 0.05% The impact of the costs of us buying and selling underlying investments for the product. Ongoing costs Insurance costs Nil This product does not charge any insurance costs. Other ongoing costs 1.64% The impact of the costs that we take each year for managing your investments. Incidental costs Performance fees Nil This product does not charge any performance fees. Carried interests Nil This product does not charge any carried interests. How long should I hold it and can I take money out early? Recommended holding period: 15 years The recommended holding period has been selected to enable investors to benefit from long term growth whilst avoiding short term volatility. You can t take money out before the accountholder s 18 th birthday, and on their 18 th birthday they have full control of their Junior ISA. How can I complain? To make a complaint about our products or our conduct, contact us with your full name and address, your account number and details of your complaint. More information can be found at: kingstonunity.co.uk You can submit your complaint via post to Complaints Department, Kingston Unity Friendly Society Limited, 9 Navigation Court, Calder Other relevant information Additional information about the product and policy conditions can be found in our Product Guide and Terms & Conditions and are available on our website. Kingston Unity is a trading name of Kingston Unity Friendly Society Limited, 9 Navigation Court, Calder Park, Wakefield, WF2 7BJ. The Society is registered and incorporated under the Friendly Societies Act 1992, registered number 775F and is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, firm reference number /002 Friends & Family Junior ISA (Single payment) Key Information Document 3

17 Friends & Family (Stocks & Shares) Junior ISA Application Form Kingston Unity is a Friendly Society. We re totally different to banks, because we re owned by our members. We re run for the benefit of you, and your family, not for shareholder profit. We ve helped hundreds of thousands of members, their children and grandchildren, to make more of their money with taxefficient savings and investments. We ve been looking after our members money and best interests since We re financial friends for life. Our promise to you We will treat you as a retail customer which means that you will receive the highest level of customer protection available under UK financial services rules and regulations. You will be treated fairly in all of your dealings with Kingston Unity including: The product and associated services will be clearly described, so that you can decide whether it meets your needs Being provided with clear and accurate information, during and after the point of sale Your obligation To complete the application to the best of your knowledge and inform Kingston Unity in writing immediately of any changes in your circumstances To read and understand the Product Guide, Key Information Document and Terms & Conditions of this product before making an application To read all documentation that we send to you. Our dealing effectively with your queries and complaints. See Key Information Document for our complaints procedure. Application checklist Page 2 Page 3 Section 1 to 3 If the applicant is under 16 then the parent/guardian needs to complete this section. If the applicant is aged 16 & 17 then they only need to complete section 1 & 3. Section 4a Choose if you are opening a new Junior ISA or if you are transferring an existing Junior ISA to us. Section 4b If you are transferring an existing Junior ISA complete this section. We will use this information to contact your existing Junior ISA provider to arrange the transfer to us. Page 4 Section 5 & 6 If you would like to make additional contributions into this Junior ISA complete this section. For new accounts we will need to take a payment to open the account. This can either be a regular Direct Debit from 5 per month and/or a lump sum payment by cheque or bank transfer. The minimum lump sum amount is 10. Once your child s Junior ISA is opened we will send you a login for their online dashboard. You can set up regular payments by Direct Debit or make additional payments using a Debit Card. A Share button lets you send a secure link to friends and family so they can make payments into the account. All payments are a gift to the child and can not be returned to the payer. Section 7 This section describes how and in what circumstances we will use the personal information you give to us. It also gives you the opportunity to tell us whether or not you would like to receive newsletters and information about our other products and services, and to indicate your communication preferences if so. Section 8 Please read the declaration in full and once you have completed the application form, sign and date it in the space provided. Section 9 If someone has recommended you or if you have a promotional code then you can add it here and let us know how you heard about us. What to do next If you have read all the information and are ready to apply, simply complete this form and return to: Freepost RSJC-BBGE-KSAX, Kingston Unity, 9 Navigation Court, Calder Park, Wakefield, WF2 7BJ If you have any questions whilst completing this form you can contact us on: enquiries@kingstonunity.co.uk ffjisa.co.uk Friends & Family (Stocks & Shares) Junior ISA Application Form 1

18 Friends & Family (Stocks & Shares) Junior ISA Application Form Please complete this form in BLOCK CAPITALS using black ink. To open the account please complete the form below, and read the checklist on the previous page. If you would like any help completing your application, you can contact us on The child s details - I apply to open a Stocks & Shares Junior ISA for: Title First name Last name Gender Male Female Date of birth dd/mm/yy Address Post code Telephone NI No* * National Insurance Number if known. 2. Adult with Parental Responsibility (if child is under 16) Title First name Last name Gender Male Female Date of birth dd/mm/yy Address If different from child s address Post code Telephone 3. address - (For either the adult with parental responsibility or the child if aged 16/17) * * We will use this address to set up the online dashboard where you will be able to view the account and make additional payments. 4. Your Friends & Family Junior ISA (JISA) Application 4a. I would like to apply to 3. Your ISA Application transfer an existing JISA from another provider (Complete section 4b) open a new JISA (Continue to section 5) You can find section 5 on the next page 4b. Transferring an existing JISA from another provider You can also apply online at ffjisa.co.uk Existing JISA provider name Existing JISA account number Existing JISA provider address Post code Type of JISA Cash JISA Please continue to question below Stocks & shares JISA You will need to transfer the whole amount. Please continue to section 5 If Cash JISA do you want to transfer all or partial? All Partial If partial how much? Does this include current tax year? Yes No We don t request the funds from your current provider until the 30 day cancellation period has ended. Friends & Family (Stocks & Shares) Junior ISA Application Form 2

19 Friends & Family (Stocks & Shares) Junior ISA Application Form 5. Making additional payments For new applications we will need to take a payment to open the account. You can do this with a lump sum payment, by setting up a monthly Direct Debit or both. All payments are a gift to the child and can not be returned to the payer and are subject to the maximum limit set by the Government which can be found on our website ffjisa.co.uk 5a. Monthly Direct Debit Choose the amount you would like to invest for your child each month Other *minimum 5 Monthly collection date 1st 16th Choose one Please complete section 6 with your bank details. 5b. Lump sum cheque payment Choose the initial amount you would like to pay by cheque* *minimum lump sum cheque amount is 10 Please make your cheque payable to Kingston Unity Child s full name 5c. Bank transfer Choose the initial amount you would like to pay by bank transfer* *minimum lump sum bank transfer amount is 10 Account name: Kingston Unity Sort Code: Account: Please use your child s name as a reference. 6. Instruction to your bank or building society to pay by Direct Debit Instruction to your Bank or Building Society to pay by Direct Debit Please fill in the whole form using a ball point pen and send it to: Applications, Kingston Unity Friendly Society Limited 9 Navigation Court, Calder Park Wakefield WF2 7BJ Name and full postal address of your Bank or Building Society To: The Manager Bank/building society Service user number Reference Address Name(s) of Account Holder(s) Postcode Instruction to your Bank or Building Society Please pay Kingston Unity Friendly Society Limited Direct Debits from the account detailed in this Instruction subject to the safeguards assured by the Direct Debit Guarantee. I understand that this Instruction may remain with Kingston Unity Friendly Society Limited and, if so, details will be passed electronically to my Bank/Building Society. Signature(s) Bank/Building Society account number Branch Sort Code Date Banks and Building Societies may not accept Direct Debit Instructions for some types of account. This guarantee should be detached and retained by the payer. The Direct Debit Guarantee This Guarantee is offered by all banks and building societies that accept instructions to pay Direct Debits If there are any changes to the amount, date or frequency of your Direct Debit Kingston Unity Friendly Society Limited will notify you 10 working days in advance of your account being debited or as otherwise agreed. If you request Kingston Unity Friendly Society Limited to collect a payment, confirmation of the amount and date will be given to you at the time of the request If an error is made in the payment of your Direct Debit, by Kingston Unity Friendly Society Limited or your bank or building society, you are entitled to a full and immediate refund of the amount paid from your bank or building society If you receive a refund you are not entitled to, you must pay it back when Kingston Unity Friendly Society Limited asks you to You can cancel a Direct Debit at any time by simply contacting your bank or building society. Written confirmation may be required. Please also notify us.

20 Friends & Family (Stocks & Shares) Junior ISA Application Form 7. How your information will be used We will use your personal information, and the personal information about the child for whom you are applying, that you provide us with to administer their account, including collecting payments, managing claims and withdrawals and providing regular statements. If you register an interest in an event, promotion or product for yourself we will use the personal information you give us to get in touch with you about it according to your indicated communication preferences. We may share the personal information you give us with our service providers to conduct our business efficiently and effectively. Information about your rights (and those of the child) in relation to our processing of your personal data are set out in our Privacy Notice. You can also find out more information about how, what, when and why we process such personal information in this notice. We take your privacy very seriously and we think you should too so please take a moment to read this notice in full. 7a. Keeping you informed Kingston Unity would like to keep you informed of other products and services we offer which we feel may be of interest to you. We will never sell or licence your personal information to a third party. You can easily opt out of receiving such information at any time by contacting us. Would you like to receive a member newsletter? We currently send a member newsletter by twice a year. It includes Society news, financial and lifestyle articles and information about community events. If you would like to receive this tick the appropriate boxes below: Post (I don t have an address) Would you like to receive information and offers about our products & services? If you would like to hear about latest offers and information about our products and services please tick the appropriate boxes: Post Phone Text Message 8. Declaration - please ensure you sign and date this section 8a. I declare that: I am 16 years of age or over I am the child or I have parental responsibility for the child I will be the Registered Contact for the Friends & Family Junior ISA The child is resident in the UK, or is a UK Crown servant, a dependant of a UK Crown servant or is married to/in a civil partnership with a UK Crown servant The child will be the beneficial owner of the investments held in the Junior ISA The child does not hold a Child Trust Fund and has not subscribed and will not subscribe to another stocks & shares JISA. I am not aware of any other stocks & shares JISA held by the child (These can be disregarded where the stocks & shares JISA is being transferred to us) I am not aware of other JISA subscriptions that will result in this child exceeding the annual limit and I will not knowingly make subscriptions to JISAs for this child that will result in the subscription limit being exceeded. 8b. I authorise Kingston Unity Friendly Society Limited: To hold the child s contributions, JISA investments, interest, dividends and any other rights or proceeds in respect of those investments and cash, and To make on the child s behalf any claims to relief from tax in respect of JISA investments 8c. I agree to inform Kingston Unity in writing immediately of any changes in the child s or my details. 8d. I have read and understand the Product Guide, Key Information Document and Terms & Conditions of the Friends and Family Junior ISA. I declare that this application has been completed to the best of my knowledge and belief. Sign Here Date dd/mm/yy 9. Further information Promo code How did you hear about us? Once your application is complete, simply return it using our freepost address: Freepost RSJC-BBGE-KSAX, Kingston Unity, 9 Navigation Court, Calder Park, Wakefield, WF2 7BJ Find out more at enquiries@kingstonunity.co.uk kingstonunity.co.uk Kingston Unity is a trading name of Kingston Unity Friendly Society Limited, 9 Navigation Court, Calder Park, Wakefield, WF2 7BJ. The Society is registered and incorporated under the Friendly Societies Act 1992, registered number 775F and is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, firm reference number /004 Friends & Family (Stocks & Shares) Junior ISA Application Form 4

21 Friends & Family Junior ISA Demands & Needs We hope that you have found all of the information you need in this information pack, the following questions will help you to understand whether our Friends & Family Junior ISA meets your needs and will enable you to make an informed decision about the suitability of this product. Please answer the following questions and return your answers to us with your application. Name:... Date of Birth: Are you looking to save for the medium to long term (until the account holders 18th birthday)? Yes / No 2. Are you aware that withdrawals cannot be made from the account until the account holders 18th birthday, and then only by the account holder? Yes / No 3. Are you currently contributing into another stocks and shares Junior ISA or Child Trust Fund? Yes / No 4. Are you aware that a Market Value Reduction (MVR) may apply to withdrawals or transfers taken at a time other than the guaranteed date of the account holders 18th birthday? Yes / No If you answer no to questions 1, 2 or 4, this product may not meet your needs. We are not able to provide you with financial advice. So, if you are in any doubt whether this Junior ISA meets your savings needs, you can seek advice from a Financial Adviser. You may be charged for this advice. Thank you for your interest in Kingston Unity Friendly Society. If you have any questions about this or any other of our products then please contact us using one of the methods below. Find out more at: enquiries@kingstonunity.co.uk Kingstonunity.co.uk Kingston Unity is a trading name of Kingston Unity Friendly Society Limited, 9 Navigation Court, Calder Park, Wakefield, WF2 7BJ. The Society is registered and incorporated under the Friendly Societies Act 1992, registered number 775F and is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, firm reference number /009 FFJISA Demands & Needs