The Prudential ISA
The Prudential ISA, provided by Link Financial Investments Ltd, combines tax-efficient investment with access to the PruFund funds and Open-Ended Investment Company (OEIC) funds.
Features and benefits
- Tax-efficient growth – clients have no Income or Capital Gains Tax to pay on growth within the ISA.
- Access to the PruFund range of funds.
- A range of OEIC funds – designed to meet different investment objectives and attitudes to risk.
- Easy access to invested money – with regular and one-off withdrawals to suit client needs.
- Investment of as little as £50 each month or with a single lump sum of £500.
- Freedom to transfer – clients can transfer their existing Cash ISA or Stocks and Shares ISA to the Prudential ISA.
- No fixed term – so clients can invest for as long as they want whilst the ISA remains open.
About the Prudential ISA
Link Financial Investments Limited is responsible for all regulatory and legal aspects of the ISA and provision of all customer services.
Clients can start their investment from as little as £50 each month or with a single lump sum of £500. The minimum top-up payment is £250.
There is no minimum investment term – clients can stop, restart, raise or lower payments whenever they like.
The Prudential ISA has two elements:
- Investment in a life insurance policy which allows access to the PruFund Funds (the Life Insurance Policy) for which Prudential is responsible
- Investment in Open-Ended Investment Company (OEIC) funds for which Link Fund Solutions Limited are responsible
Clients can choose to invest in one or both of these elements of the Prudential ISA.
Download our guide to the Prudential ISA (PDF)
Who can invest?
Any owner must be at least 18 or over. There is no maximum age limit.
Contributions
The following minimum investment amounts apply:
- Initial payment or transfer of £500 per fund
- £250 for top-ups
- Regular monthly payments of £50 per fund
Regular savings can be increased by any amount, subject to a minimum of an additional £5 per month.
ISA investment limits
The overall ISA subscription limit is £20,000 for the current tax year. This can be split in any proportion between Cash and Stocks and Shares ISAs. Transfers in from other ISA plans don’t count towards your clients’ annual limit.
Prudential does not offer a Cash ISA.
Withdrawals
Clients can:
- take regular withdrawals monthly, quarterly, six-monthly or annually (subject to a minimum withdrawal of £50)
- take partial withdrawals as a specific amount (subject to a minimum withdrawal of £250)
- opt to fully surrender the ISA at any time. The ISA ends once all proceeds have been withdrawn
The maximum aggregate value of withdrawals in a 12 month period must not be more than 7.5% of the full value of a client’s eligible holdings.
If clients are taking a lump sum or regular withdrawals from their ISA, the minimum value limit is £500 for each fund.
Download the Prudential ISA Fast Facts Document (PDF)
Continue reading article…
