Children’s Saver Plan

Build up a valuable lump sum for your children from £5 a week

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The Plan offers you a chance to build up a valuable lump sum with no additional tax liability for your children in an affordable way. The plan is flexible so you can decide if you would like the savings to mature after 10 years, or when your children reach either 16, 18, 21 or 25 years of age.

The Children's Saver Plan gives you the opportunity to benefit from savings with no additional tax liability — perhaps for your child's further education, their first car, their wedding, or just the comfort of knowing that there is a guaranteed nest egg for them at the end of the savings term.

  Deducted from payroll

  Always speak to the same person

  Simple to join online now

  No additional tax liability savings

  150 year history

Examples of past performance for £5 weekly premium

Age 2, Matured at age 16 policy taken out in 2005
Matured with a payment of £4336.89

Age 0, Matured at age 18 policy taken out in 2001
Matured with a payment of £6057.17

Age 2, Matured at age 21 policy taken out in 2001
Matured with a payment of £6393.90

Past performance is not an indicator of future returns.


How does it work?

It’s simple...To join the Children’s Saver Plan you need to commit to save for a minimum of 10 years. We can deduct your savings contribution directly from your pay, and the more your child will receive when the savings plan matures.

Each Child will be allocated a Guaranteed Sum Assured. This is the minimum amount your Child will get back when the savings plan matures, or earlier in the event of death.

Why is it tax-free?

Because it has a special tax status for Friendly Societies.

Tax-exempt policies from Railway Enginemen’s Assurance Society enjoy a special tax status afforded to members of Friendly Societies under current Government legislation. So, if you save no more than £5 per week, for a minimum of 10 years, the Society is not liable to suffer tax on the capital gain or investment income arising from the Children’s Saver Plan, with the exception of tax deducted from dividends on equities.

What happens to the profits?

We share them out... Each year, every Children’s Saver Plan policyholder will receive a share in the profits of the Society. A Reversionary Bonus may be added to the Guaranteed Sum Assured – once added this bonus can’t be taken away.

Will I need life cover for the policy?

It’s included... The Children’s Saver Plan Policy includes built in life cover with the policy. In the event that the Child dies during the agreed savings term, the Guaranteed Sum Assured or the value of the policy, whichever is the greater amount, will become payable to the child’s estate.

Need more information?

If you still have questions about the plan then we’ve put together a useful list of FAQs.

Otherwise, please feel free to get in touch with our Customer Service team who will be happy to answer any questions you have or to run through the application with you.

Telephone: 0800 328 9140

You can call us any time between 9am to 5pm Monday to Thursday or 9am to 4pm on a Friday.

Ready to get started?

Before you start your application, please make sure that you have read and understand the following documents:

  Key Information Document

  Sums Assured

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Investment Bond

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Saver & Disability Plan

Railway Enginemen’s Assurance Society offers your the peace of mind and financial security should you be permanently removed from your duties because of a disability. This is also combined with a lump sum at the end of the saving plan with no additional tax liability, or earlier in the event of death.

The Saver and Disability plan is a long-term saving plan that is an affordable way to save with no additional tax liability — giving you peace of mind that there is a lump sum put aside for a rainy day or in the unfortable event that you are unable work through a permanent disability.

Apply online now

Saver Plan

Offers you the chance to build up a valuable lump sum with no additional tax liability. It allows you to save long-term, perhaps for a deposit on a house, special holiday, new car or for a lump sum to put aside for a rainy day.

The plan is available to any Railway employee, their spouse or partner and provides also a lump sum with no additional tax liability payable in the event of death.

Apply online now