Wealth Plus is a simple, tax-paid, long-term savings plan that combines features of a managed investment portfolio and a life insurance policy PLUS creates lasting positive change for the community.
Wealth Plus has three new investment options to switch to, beyond your current Capital Guaranteed investment, Balance, Growth and High Growth.
Each option has its own risk profile and investment strategy, giving you greater flexibility to select the investment profile that suits your needs. You can switch to one, all or a mixture of the four investment options all whilst knowing your investments will be responsibly invested to benefit the community.
If you are interested in the Wealth Plus investment options, please register here.
The Foresters Difference
Foresters Financial is a proud member-owned investment and insurance company that puts its members financial security first, with 80,000 members across Australia. With over $380m in funds under management and origins that date back over 170 years our ethos of helping the community in their time of need that founded Foresters in 1849, continues today as we implement our responsible investment policy across all our funds and also with our charitable giving account that has been established to support the communities in which we all belong.
Socially responsible alternative to regular saving accounts, taking into account environmental, social and governance factors whilst helping your community.
Ability to nominate a beneficiary anytime to receive proceeds in the event of your death, tax free, without the hassle of a probate, will or a trust. No yearly renewal required, update anytime.
No annual cap on contributions, subject to 125% Rule, with access to your money at any time.
Pay no personal tax on investment earnings whilst in the fund and your withdrawals after 10 years are tax-free. Withdrawals before 10 years may receive a tax offset on tax already paid in the fund.
Low initial investment amount, paired with a regular savings plan that allows you to access and withdraw your money at any time.
With over 170 years’ experience of supporting our members in their time of need, our friendly Australian based team is here to support you every step of the way.
Key information regarding investment performance, contribution minimums and fees. Please read the PDS for further detail.
|Min Balance Amount
|Min Switch Amount
Via the Switching Form
|Min Regular Saving Amount||$60 per month|
|Management Fee||1.6% (including community grants)
0.75% (Capital Guaranteed option)
|Switching Investment Options Fee||nil *
(may incur investment transaction costs)
Summary of the most common questions , for further information please read the PDS or visit our detailed FAQs page.
The 10 Year Tax Rule means the income component of your withdrawals from the Fund are tax-free after 10 years if you have met the 125% Contribution Rule and therefore does not need to be declared on your personal income tax return. Income in the Fund is also taxed at the company tax rate (currently 30%) and paid for by Foresters Financial, which means you do not have to declare any income whilst you are invested in the Fund.
In order to receive investment earnings tax-free after 10 years, you must meet the 125% Contribution Rule.
Whilst there is no limit as to the amount you can invest in the first year of your policy (this will set your benchmark), each following year you can make the same contribution you did the previous year plus an additional 25%, therefore totalling 125%.
If you contribute more than 125% of your previous year’s contributions, the start date of the 10 Year Tax Rule will be reset for tax purposes. This means that in order to withdraw your funds and have no assessable income, you will need to keep your investment for a further 10 years from this point. Otherwise, any income component of your withdrawals during this period will be assessable income.
You can access your money at any time, however if you do so prior to 10 years you will not gain all the tax paid benefits and may be liable to declare the assessable income in their personal tax return in the year it was withdrawn.
Yes, a child aged between 10 and under 16 years old is able to take out a policy in their name with parental or guardian consent. A child who is a policy owner is not allowed to make investment decisions, which includes switching, nominations or transfer of ownership. A child will be the Life Insured listed on the policy. In the unfortunate event of a child passing away, the investment proceeds will be distributed tax-free to their estate.
Only new members are entitled to request, in writing, the cancellation of the policy within thirty (30) days of receipt of confirmation of your policy.