Ten Year Savings Plan

A small regular amount can make a big difference

A long-term savings plan invested for growth. Perfect for those who want a simple and affordable way to build a lump sum. The plan can remain invested once all the premiums have been paid and best of all, keep it for at least 10 years and there is no tax to pay when you take your money out.

Save from £25/ month

10-year term

No tax payable if held for the full term

Life cover included

Start a 10-Year Savings Plan Speak to our friendly team

What is a Ten Year Savings Plan?

Our Ten Year Savings Plan is a straightforward way to put money aside for the future. You save a fixed amount each month, your savings earn annual bonuses and normally a final bonus on encashment, and after 10 years you can take your lump sum or leave it invested. It's ideal if you want a disciplined savings plan you can't dip in and out of - helping you build towards a deposit, a holiday fund, school fees, or whatever matters most to you.

Your first £25 a month can go into a Tax Exempt Plan, meaning Police Friendly doesn't pay tax on the income and capital gains - so we can pay higher bonuses on that portion of your savings.

The plan is designed for those looking to build up a lump sum over the long term without paying tax on the growth.

The plan also includes a small amount of life cover to give peace of mind (for example, paying £100 per month gets you just over £11,000 worth of life cover from day 1).

Invested in our With-Profits Fund with the aim of growing your pot through annual and final bonuses. This may be appropriate for those who can commit to paying a small amount (or more) via salary or direct debit and who are unlikely to need access to the funds during the term.

The value of your plan can go down as well as up and you may get back less than you have paid in if you withdraw before 10 years.

Start a 10-Year Savings Plan Speak to our friendly team

At a glance

Save from £25 to £300 per month
10 Year Term
Ideal for long term goals, funding life events or topping up your pension lump sum
Built in life cover
Can be left invested to grow with further annual and final bonuses
No tax on gains
Early withdrawal allowed but you may get back less than you have paid in

Quick links

Jargon Buster Police Pay Guide

Made for the Police Family

Better protection

Our policies are fully protected by the Financial Services Compensation Scheme (FSCS). Designed to keep your savings safe if a provider fails, giving you peace of mind.

Built for the Police Family

A Friendly Society serving the UK Police Family for 130+ years.

Member-owned

As a mutual, all profits are returned to Members through bonuses and in support of the wider Police Family.

All serving and retired Police Officers, Staff and their families are eligible

How it works

Choose how much you'd like to save each month, let your money grow in our With-Profits Fund, and take your lump sum after 10 years or leave it to grow. You can even set up a Rolling Plan so you receive a payout every single year.

Choose how much to save

Save between £25 and £300 a month. Your first £25 can go into a Tax Exempt Plan, meaning we don't pay tax on the income and capital gains - and can pass higher bonuses on to you. Simply choose your monthly amount and apply online or by post.

Watch your savings grow

Your money is invested in our With-Profits Fund, which smooths out market ups and downs. Each year, annual bonuses are added to your plan - and once they're added, they're yours to keep. At the end of 10 years, you'll normally receive a final bonus on top.

Receive your lump sum

After 10 years, you can take the total value of your plan as a lump sum - or leave it invested with us to continue growing. If you've set up a Rolling Plan, you'll have new plans maturing each year, perfect for regular expenses like holidays, Christmas, or school fees.

Key Information

Before you apply for the Ten Year Savings Plan, please read the key information below.

Key Information Document

Full product information for the standard (taxable) Ten Year Savings Plan.

Download PDF

Key Information Document (Tax Exempt)

Full product information for the tax-exempt portion of your savings.

Download PDF

Application form

Your Ten Year Savings Plan application. You can also opt into the Rolling Plan on this form.

Download PDF

Direct Debit Form

Complete this form to pay your Ten Year Savings Plan premiums by direct debit.

Download PDF

30-day cooling-off period

You have 30 days from opening the plan to change your mind. If you cancel within this period, you'll receive a full refund of any contributions.

Early Withdrawals

Early redemption charges may apply if the plan is cashed before 10 years. Therefore you could get back less than the amount paid in (particularly during the early years).

As a NARPO Member, I’m proud to say that Police Friendly & Metfriendly has delivered financial security for me and my family.

Craig Haslam, DL FGPT, Retired Chief Superintendent

Your presenters were really good and explained what can be complicated and complex matters, in a simple and easy to understand format.

Pre-retirement seminar attendee

Little bits of saving down the line can make a huge difference to your family, whatever the future brings.

Emma Richards, third generation Retired Police Officer, Police Friendly & Metfriendly Non Executive Director

I have always been pleased with the returns from my Police Friendly & Metfriendly Policies.

Mr P Payne

With the Government’s Lifetime ISA bonus and my family chipping in, I was able to buy my first home sooner than I ever dreamed.

Mr B

Great opportunity for family Members to be offered the same offers as Members.

Miss A McLeary

Contact us directly

Get free, personalised guidance on your savings and investment options.
For serving, former and retired Police Officers, Staff and their families.
A 20-30 minute session with one of our friendly team.

Call us today

08:30 to 17:00 Monday to Thursday and 08:30 to 16:30 on Friday.

01689 891454

Send a message

Get in touch using the email below or fill in the form to get a call back.

info@mpfs.org.uk

Office

MPFS, Central Court,
Knoll Rise,
Orpington
BR6 0JA

Get directions

Request a callback

Want to talk to one of our friendly team about your options? Drop your details on the form below and we will get in touch.