SAGA GENERAL INVESTMENT ACCOUNT

Why choose a General Investment Account?

If you've used up your ISA allowance this tax year and have more money to invest, you could open a Saga General Investment Account.

• You can invest as much as you want each year, starting from a £100 lump sum or £100 each month. You can also make one-off payments of £100 or more.
• Enjoy the same choice of three ready-made portfolios as with the Saga Stocks & Shares ISA.
• If you have other General Investment Accounts, you could transfer the cash value across to your Saga General Investment Account.

You may need to pay Capital Gains Tax (CGT) if your investments have increased in value when you sell them. You may also need to pay income tax on any dividend income or interest received depending on your personal tax position.

Read about the key features of the Saga General Investment Account.

What can you invest in?

You can choose from three ready-made investment portfolios. Each one suits a different goal and level of risk.

Cautious Growth Portfolio – find out more

Balanced Growth Portfolio – find out more

Adventurous Growth Portfolio – find out more

Designed and operated by HUB Financial Solutions, the portfolios allow you to invest in a range of funds. Each holds different types of assets like cash, bonds and company shares (or ‘equities’), across UK and international markets. This diversity helps spread the risk while giving your money the chance to grow over the medium to long term (five or more years).

Find out more about the investment portfolios.

Glide towards your goal

If you’re investing for something specific, you may know when you want to access your money. If that’s at least five years away, you could choose our exclusive Glide Path feature.

Glide Path automatically reduces your risk level as you approach your goal. This helps reduce the risk of your money falling in value just when you’re planning to use it.

You can choose this option when you first invest. You can also switch it on or off at any point in the future. Find out more about the Glide Path.

Ways to deposit your money

1. Lump sum - Got spare money sitting in a savings account? You can invest a minimum of £100 as a lump sum. And there's no maximum limit.
2. Monthly payments - If you'd like to put some money in each month, you can start from £100 each month. There’s no monthly maximum.
3. Ad hoc – Invest lump sums of £100 or more whenever you like.
4. Transfer other investments - You can transfer across the cash value of any investment accounts you hold with other providers. This makes it easier to monitor all your investments and you might save on fees. Read more about combining investments.

Invest in the Saga General Investment Account now.

Things to bear in mind

Before investing, you should be aware that:

• Saga Investments is a non-advised service. This means you won’t receive advice on investment decisions or whether the products suit you. If you need this type of advice or support, it's not the right service for you.
• This is a medium to long term investment – preferably more than five years. There can be ups and downs in financial market. But the longer you’re invested, the more chance your money has to overcome falls and grow again.
• The Saga General Investment Account doesn’t share the tax benefits of an ISA. General Investment Accounts don't offer the tax benefits of ISAs, so would generally only be appropriate to consider if you've reached the annual ISA limit. Profits from the investments are subject to capital gains tax when sold. Income tax may also be payable on any dividends or interest you receive.

Find out more about the risks of investing.

Fees and charges

There’s no up-front fee when you open a Saga General Investment Account, and no exit fee if you take your money out. The total annual cost is up to 0.75% per year of the overall value held within the account. So, if you’re investing a total value of £10,000, the cost for the whole year would be up to £75.

The fees and charges are collected automatically - you don't need to do anything. You’ll receive the full up-front breakdown of the fees and charges you’ll pay in the ‘Illustration of Costs and Charges’ document when you open your account.

For further information about the fees and charges, look at the FAQs and our Investments Terms & Conditions.

How to open an account

1. Set up your online account. We just need your email address, phone number and date of birth.
2. Read the important information carefully. Make sure the Saga General Investment Account is right for you, and you understand the risks.
3. Once you've confirmed you want to open an account, tell us your preferred investment option.
4. Finally, let us know whether you’re investing a lump sum, setting up regular payments or transferring the cash value of other investment accounts.

Once everything has been checked and is in order, your Saga General Investment Account will be set up for you.

Please remember that Saga Investments is ‘non-advised’. This means you won’t receive advice on investment decisions or whether the products are suitable for you. If you need additional support, this will not be the right service for you.

Managing your investments

Your online account offers you easy access to your investments at any time. You have the flexibility to:

• Pay in more money – as a one-off or regular contribution
• Transfer the cash value of other General Investment Accounts to the Saga General Investment Account
• Check the value of your General Investment account
• Run illustrations
• Request a transfer
• View your important documents
• Make a one-off withdrawal or set up regular withdrawals.

You can also perform the following by contacting the Saga Investments team by phone on 0800 302 9755 (Mon-Fri, 9am to 5pm):

• Turn the Glide Path feature on and off
• Changing your account details
• Switch investment portfolio.

Eligibility

To open a Saga General Investment Account:

• You must be over the age of 18.
• You must be resident and ordinarily resident in the UK for tax purposes. This includes Crown servants, or the spouses or civil partners of Crown servants working overseas. We are not able to provide Saga Investments to US citizens.

Additional information

• You can cancel your account within 14 calendar days of the date on which your account was opened by calling or emailing the Saga Investments Team. If you cancel, the value of your Saga General Investment Account will be repaid to your bank account within five working days.
• If the value has fallen between the time you invested and the time when the funds are sold following your cancellation instruction, you won’t get the full amount of your investment back.
• You may need to pay Capital Gains Tax (CGT) if your investments have increased in value when they’re sold. You are currently able to make £3,000 in gains across all of your investments and on the sale of other assets, each tax year before you pay CGT. This allowance is subject to change by the UK Government. Depending on your personal tax position, you may also need to pay Income Tax on any dividend income or interest received. Fees will continue to be due until your Saga General Investment Account is cancelled.

Protecting your money

HUB Financial Solutions, Hubwise and the providers of the funds you hold within your Saga General Investment Account are covered by the Financial Services Compensation Scheme (FSCS). This protects customers against financial services firms that have failed.

In the unlikely event that any of these companies can’t meet their obligations, you may be entitled to compensation from the scheme up to a maximum limit of £85,000 per person, per firm.

The FSCS does not cover losses for poor investment performance - the nature of investments means their value can go down as well as up.

For more information about the FSCS, visit the FSCS website.

The information provided on this website should not be taken as a recommendation, advice or forecast. Tax paid depends on your personal tax position. Tax rules are subject to change by the UK Government.

Hubwise Securities Limited (FRN 502619) is authorised and regulated by the Financial Conduct Authority, is an ISA Plan Manager (HMRC ISA Plan Manager Z1723) and a Member of the London Stock Exchange.