Children’s Savings Plan

There are few better material things you can give your child or children than a solid financial base for when they begin to make their way in the world.

With a Metfriendly Children’s Savings Plan you can save for a beloved child’s future for just £25 a month – and it’s exempt from tax.

So for a relatively small monthly sum a much-loved child could receive quite a substantial lump-sum after at least ten years of saving.

Only friendly societies can offer these simple tax-exempt savings plans.

Save a fixed £25 a month and after at least ten years the accrued sum will be paid to the child (alternatively it can be left as long as they wish to accrue further potential bonuses). The child (if aged 16 or over) or the parent can request the money at any time, but it will always be paid to the child. A new plan can be started for the child (up to the age of 18) for a further ten years if required.

  • low fixed monthly premium of just £25
  • guaranteed lump sum after 10 years (or leave it invested to grow)
  • each year an annual bonus is added to the savings
  • a final bonus is normally added when the plan is cashed in after at least ten years
  • Metfriendly does not pay tax on the income and capital gains made for this tax-exempt plan – so we can pay higher bonuses

PLEASE NOTE: When the child reaches the age of 16 they are legally responsible for their own savings plans and the annual statement will be sent to them.

What returns has this plan produced?
2020 2021 2022 2023 2024
Savings of £25 per month £3,000 £3,000 £3,000 £3,000 £3,000
Growth over 10 years withdrawn on 1 January £593 £470 £519 £257 £182

£25 per month Children's Savings Plan (tax-exempt) cashed in on 1st January

Equivalent* annualised return for 10 years to 1st January 2024

More info and apply
Who can apply for a Children's Savings Plan?

A parent (or someone with parental responsibility) must sign the application on behalf of the child and supply a copy of the child’s birth certificate. The child must be the child, grandchild, great grandchild, stepchild, nephew, niece or sibling of someone who works (or has worked) in the UK Police Service. The child must be resident in the UK and needs to be under 18 at outset.

Who can pay into a Children's Savings Plan?

The payer can be either:

a) The child’s parent

b) A relative or family friend (with the parent’s agreement)

c) The child.

The payer must be age 18 or over and have a UK bank account. Any payer who is NOT a parent will not receive annual statements and will have no rights to surrender the plan early. If the payer stops paying premiums the plan will cease (and the surrender value will be paid to the child) unless someone else takes over as the payer.

It is not possible for more than one person to pay into the same Children’s Plan at the same time.

Where is the premium invested?

The premiums are invested in the Metfriendly With-Profits fund. For information on what that is and how it works, including a diagram to show the approximate investment mix, please refer to the With-Profits fund page.

What happens when the child reaches 18?

If the savings plan started after the child’s 8th birthday, premiums will need to continue for the full ten years of the policy.

If the plan has already matured and premiums are no longer being paid, there is no change and the savings will continue to grow as before.

Who can cash in the plan?

If the child is under 16, the parent can request the plan be cashed in, but once the child is 16 or over only the child can make such a request.

We will always make the payments to the child, who will therefore need an account in their own name.

Early redemption charges may apply if the plan is cashed in early and the child could get less than was paid in.

What if I change my mind or decide to cancel?
  • You can cancel for a full refund within 30 days of receiving your policy documents.  Simply contact our Member Services team on 01689 891454 or email [email protected] 
  • If you wish to stop or cancel your plan after this, remember this type of plan is fixed and penalties may apply. Our friendly Member Services team will be able to discuss your options.
How do I contact you?

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

Phone: 01689 891454 

Email: [email protected]

‘I’ve used Metfriendly for the last 5 years and recently the money has gone towards a deposit for our house. I will be signing back up next year to help save towards my kids future.’

Mrs A Cooper, Met CC, Bow

‘Hassle-free savings that are started every year on my behalf, without me having to call up.’


D.C. R McLaren, Hackney Borough Stations

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

Miss A McLeary, ESB

‘I would recommend Metfriendly to everyone.’

Mrs V Thompson, Dagenham

Very happy with the service. I have a number of policies for myself and my children.

Police Sergeant S Drysdale, DPS Borough Support

Good service – always very helpful and informative.

Miss J Coward, South Norwood, London

‘I have always been pleased with the returns from my Metfriendly policies.’

Mr P Payne, Bordon

‘Very pleased with the service I’ve received to help me save money direct from my salary.’

DC Chris W, SO15

‘I’ve used Metfriendly for the last 5 years and recently the money has gone towards a deposit for our house which we are moving into next month. I will be signing back up next month to help save towards my kids future.’


Amanda Cooper (Met CC, Bow)