Thinking of making a withdrawal from your plan?

Read our information below if you are considering making a withdrawal to see what impact it may have.

If you are considering making a withdrawal.....

...there are a few key points you should consider first.

  • Your plan should be viewed as a long-term investment to meet your financial objectives over a 5 to 10 year period.
  • If you see a decrease in the value of your plan because the stock market has fallen, you don’t actually lose any money unless you make a withdrawal from your plan at that time.
  • Consider using money held on deposit in short-term savings accounts before making withdrawals from your long-term plans.

In addition you may also need to establish if any of the following will affect your financial position

  • Tax charges on any gains made as a result of a withdrawal (not applicable to ISA Investor)
  • Any income or gains arising on amounts withdrawn from your ISA Investor will no longer be free from personal tax
  • Loss of any loyalty bonus (which may be available on Personal Investment Plans)
  • Movement into higher rate tax band as a result of a withdrawal (not applicable to ISA Investor)
  • Impact of any guarantees (particularly on Guaranteed Investment Plans and the Capital Protected Option)

For the following plans:

  • ISA Investor
  • Collective Investment Plan
  • Guaranteed Growth Bond (until Oct 2008)
  • Investment Bond
  • Bonus Bond
    Call 0845 366 1513**
  • Personal Investment Plan (invested before the 27th June, 2010)
  • Guaranteed Investment Plan
    Call 0870 901 0137*
  •  Personal Investment Plan (invested after the 28th June 2010)
    Call 0800 141418 **
  • Scottish Widows ISA or OEIC
    Call 0845 300 2244 **

 

* (Monday - Friday 8am - 6pm, Saturday 9am - 1pm)
** (Monday - Friday 8am - 6pm, Saturday 9am - 12:30pm)

Halifax is a division of Bank of Scotland plc. Registered in Scotland No. SC327000. Registered Office: The Mound, Edinburgh, EH1 1YZ

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