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Retired Members’ Fund
The Retired Members’ Fund is only available to members who have reached retirement and choose to leave their accumulated funds on deposit with the Society.
There is no maximum balance on this account. It is opened with a transfer of all or part of funds available on retirement.
Once the account is opened no further monies may be paid into it.
Interest is credited on an annual basis.
Withdrawals will be paid by cheque and a notice period of three days may be required to make such a withdrawal.
No deduction is currently made for tax on the interest credited. Income earned on the account is however taxable and should be declared to the Inland Revenue.
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Key Benefits
- Open to retiring members - open to retiring members who choose to transfer their accumulated funds
- Operated through the post
- Interest paid Gross - (currently 4.25%) on all balances.
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Or call us now on 01452 526 238
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