Shrewd Savings Plan ISA

An ISA (Individual Savings Account) is the tax privileged personal investment plan which replaced PEPs and TESSAs on 6th April 1999. ISAs are a tax-efficient way of investing money. Our ISA charts explain the effect of tax on a non-ISA investment compared to an ISA investment.

To open an NFU Mutual Shrewd Savings Plan ISA you must be aged between 18 and 80 years and be resident and ordinarily resident in the UK for tax purposes or, if not so resident, you perform duties which, by virtue of Section 132(4)(a) of the Income and Corporation Taxes Act 1988 (Crown Employees Serving Overseas) are treated as being performed in the UK or you are married to or a civil partner of a person who performs such duties. See our simple ISA diagram to better understand whether or not you are eligible.

Our product information is based on NFU Mutual's understanding of current HMRC practice and legislation which is subject to change

In 2013/14 tax year, the total annual ISA allowance has increased:

The annual ISA allowance will be linked to the rise in inflation (measured by the Consumer Price Index) each year. In the event of a negative inflation figure, the allowance will be frozen. NFU Mutual does not offer a Cash ISA Option.

Minimum investment amounts

For Regular Savings:  If you want to contribute on a monthly basis, the current minimum amount is £25 per month. The maximum is £960 per month provided you have not invested in an ISA with another provider in the current tax year.

For Lump sums: The minimum lump sum you can contribute to open your ISA is £1,000 into a fund. If you are topping up your existing ISA, this amount may be less if you wish to reach the overall maximum investment limit for the current tax year.

If you take out an NFU Mutual Shrewd Savings Plan ISA, your money will be invested into the NFU Mutual With-Profits fund, which means it will be spread across a number of different investments, including fixed interest stocks, property and equities. The returns from this type of investment are 'smoothed', to offer you the potential for steady growth over the long-term.

Any growth achieved will be reflected by increases in the unit price and a further ‘one-off’ addition of terminal bonus units which may be added when the units are cashed in. Remember, as with all stock market linked investments, the value of this plan can go down as well as up, and you may not get back the amount you invested.

The value of your investment in the With-Profits fund may be reduced to reflect market conditions on full or partial withdrawal, at any time other than on the policyholder's death. This reduction is called a Market Value Reduction (MVR). This could reduce the value of your investment and is most likely to happen following a large or prolonged fall in the stock market, or after a period where investment returns are regularly below the level we normally expect.

Investments in the With-Profits Fund are managed by NFU Mutual's investment team, who choose which stocks to invest in. Their philosophy is always to balance potential returns without taking unnecessary risk. In other words, they aim to generate long-term growth for investors rather than chase speculative short-term gains.

Withdrawals - Yes, you can withdraw all or part of your investment at any time by writing to us. The minimum withdrawal you can currently make is £100, and you must leave at least £500 invested. If you make withdrawals, the amount of your capital will reduce if the growth of your investment does not exceed the level of withdrawals taken.

Transfers - Yes, you can transfer your investment from another stocks and shares ISA or cash ISA.

At NFU Mutual we rate all our funds against a set of risk profiles to help a customer understand if a fund suits their needs. If you would like to know more about the risk profiles, go to Our risk ratings page.