Foresters Friendly Society

Foresters Friendly Society is a UK mutual society, established for over 190 years, with over 55,000 members and funds of £263 million under management¹. It describes itself as the 5th oldest mutual society in the UK¹. As a mutual, it has no shareholders: its profits are distributed to members through policyholder bonuses¹. Its best-known products are long-term savings plans, Stocks & Shares ISAs, Junior ISAs and Over 50s Life Cover, and it also runs the POIS brand, which provides its Savings and Investment Plan².

Two things matter most to anyone arriving at this page. First, the Society states that its investment and savings plans are closed to new business, so you cannot open a new savings plan or ISA with it¹. Second, it is proposing to transfer its UK insurance business to Shepherds Friendly¹. Existing plans are unaffected so far, and both changes are explained below.

Closed to new savers, and a proposed move to Shepherds Friendly

The most important fact for anyone thinking of saving with Foresters Friendly Society is that its investment and savings plans are closed to new business¹. That means the Society is not taking on new customers for its savings plans, its Stocks & Shares ISA or its Junior ISA. If you already hold a plan, it continues as before: the closure applies to new applications, not to existing policies. If you were hoping to open one of these products, you would need to look at other providers; the guides on ISAs and savings accounts explain how each type works and what to compare.

Alongside the closure to new savers, the Society is proposing to transfer its UK insurance business to Shepherds Friendly¹. A transfer of this kind, if it proceeds, would mean that policies move from Foresters to Shepherds Friendly, which would then administer them. The Society states this as a proposal, so it had not completed at the date this page was verified. Customers with affected policies can expect to hear from the Society directly, and transfers of engagements between friendly societies follow a formal legal process before they can take effect.

For existing members, neither change removes protection. Plans remain covered by the Financial Services Compensation Scheme¹, and the complaint route and the Financial Ombudsman Service stay available whatever society administers the policy. The practical effect of the closure is on new customers only; the practical effect of the proposed transfer, if it completes, is on who sends your statements and answers your calls.

What Foresters Friendly Society offers

Foresters Friendly Society sells long-term savings and protection products rather than bank accounts or mortgages. Its range has historically covered regular savings plans, ISAs and life cover, and it operates through POIS as well as under its own name³. POIS plans and plans taken out directly with the Society come from the same provider, so the terms, service and protection described on this page apply to both.

Savings and Investment Plan. The Society's Savings and Investment Plan is provided by POIS, which is part of Foresters Friendly Society⁴. This is a regular-premium plan that invests into the Society's with profits fund over a set term. Like the rest of the Society's investment and savings plans, it is closed to new business¹. The general guide to savings accounts covers the alternatives that are open to new savers.

Stocks & Shares ISA. The Society has offered a Stocks & Shares ISA invested in its with profits fund, and states that its plans are covered by the Financial Services Compensation Scheme⁵. An ISA of this kind wraps long-term investments in the ISA tax wrapper; the ISAs guide explains how the wrapper works. As with its other savings plans, this product is closed to new business¹.

Junior ISA and Child Trust Funds. The Society offers Junior ISA plans, again covered by the FSCS⁶, and handles Child Trust Fund maturities: when a Child Trust Fund held with Foresters reaches maturity, the Society sets out options for reinvesting or withdrawing the money⁷. Because Child Trust Fund holders become able to access their funds at 18, the maturity process matters to young savers who may not know they hold one. The Society's guidance explains what happens at maturity and the choices available⁷.

Over 50s Life Cover. The Society's Over 50s Life Cover is a whole-of-life policy for older customers. Its brochure states that UK residents aged between 50 and 80 years old are guaranteed acceptance⁸. This is insurance rather than savings: it pays out a sum on death rather than building up a cash value you can withdraw. The protection insurance guide explains how over 50s plans work generally, including what they do and do not cover.

Foresters Plus membership. Alongside its financial products, the Society runs a membership package, Foresters Plus, described in its own section below.

The Society does not offer current accounts, credit cards, mortgages or personal loans, so for those products the guides on current accounts, credit cards and mortgages cover the wider market.

How returns and charges are worked out

Foresters Friendly Society is a mutual, so its financial model differs from a bank or a plc insurer. It states that it has no shareholders and that its profits are distributed to members through policyholder bonuses¹. In practice, money paid into its with profits plans is pooled into the Society's With Profits Fund and invested across a spread of assets: the Society describes a mix that may include property, UK government bonds, equities and cash⁵, with the Stocks & Shares ISA version also mentioning private assets for diversification⁵. The aim of spreading money across asset types is to reduce the risk from any single one of them⁷.

Returns on with profits plans come through bonuses rather than a fixed interest rate. The Society adds bonuses to plans, and because it is member-owned, what is added depends on how the fund performs and on the Society's own decisions about smoothing returns over time. This page carries no rates, bonus levels or performance figures for the Society's products: those change, and the Society's own website sets out the current position for each plan. What is worth understanding is the structure: a with profits plan is an investment, so its value can fall as well as rise, unlike a bank or building society savings account, where the capital is not exposed to market movements.

Charges on plans of this kind are typically deducted from the fund or from premiums rather than billed separately, which means the visible effect is on the returns you receive rather than on a fee statement. The exact charging structure for each Foresters product is set out in its own terms and product literature. For existing plan holders, the annual statement from the Society shows what has been added and what has been deducted. For a general explanation of how investment charges eat into returns, see the investing guide.

Foresters Plus membership

Foresters Plus is the Society's membership package, separate from its financial products. Members pay an annual subscription, at either a household rate or an individual rate, and the Society states that qualifying periods apply to the benefits¹. The current subscription rates are published on the Society's own website.

The headline benefit is access to Foresters Care, a personal support service provided by RedArc¹. The Society also runs discretionary grants and donations: in 2025 it states it provided a combined total of over £1.4 million in discretionary grants and charitable donations¹. Members also benefit from the Society's community structure: it has over 180 branches all across the UK¹, and each year it runs an Annual Charity Appeal, with Shelter, the national housing and homelessness charity, chosen for 2026/2027⁷.

Foresters Plus is the membership package that comes with the Society's plans, and one point matters for anyone weighing its value: the Society states that the membership benefits it provides are not regulated by the Financial Conduct Authority or the Prudential Regulation Authority¹. The financial products it sells are covered by those regimes; the membership package is not. That means the Foresters Care service and the discretionary grants sit outside the rules that govern the Society's savings and insurance plans, so complaints about membership benefits do not follow the same complaint route as complaints about a policy.

The rules on offers, cooling off and early closure

The Society runs promotional offers, historically including eGift Cards for customers opening new savings plans or Over 50s Life Cover policies. Its offer terms set out rules that are worth knowing if you hold or are claiming an incentive.

• Qualifying period: plans qualify for the advertised incentive after successful payment of 3 months' worth of Direct Debits, or receipt of the third monthly payment from an employer for payroll applications, or once the specified investment period has passed².
• Delivery: the eGift Card is sent up to 6 weeks following the third Direct Debit, or up to 6 weeks following the specified investment period, and an email address must be provided².
• One per customer: eGift Cards are only available to customers opening a new savings plan or Over 50s Life Cover policy, and are rejected if the customer has previously opened the same product with the Society². This does not apply if you received the Over 50s Life Cover birthday email or a personalised campaign offer directly from Foresters Friendly Society or POIS².
• Joint and combined applications: joint Bond applications qualify for one eGift Card only, sent to the first applicant². Where a combination of lump sum, direct debit and transfer is set up at the same time for ISAs, Lifetime ISAs and Junior ISAs, only the highest eGift Card value applies², and where Child Trust Fund funds are reinvested on maturity into both a Lifetime ISA and a Stocks & Shares ISA, only one eGift Card is issued, at the higher value².
• Cooling off: if the new plan is cancelled within the 30 days cooling off period, eGift Cards will not be sent².
• Early closure: if a new Stocks & Shares ISA, Lifetime ISA, Junior ISA or Investment Bond is closed within 12 months of commencement, the Society reserves the right to deduct the value of the eGift Card from any surrender value or refund of premiums².
• Channel and combination rules: offers may not be combined with any other offer unless specifically stated, offers do not apply to plans taken out via paper application forms, postal transfers or top ups, and offers are not available via the Adviser or Introducer channel². The Society reserves the right to withdraw or amend offers at any time without notice, and may withhold eGift Cards if the scheme is being misused².

Given that the Society's savings plans are closed to new business¹, most of these rules now matter mainly to customers who claimed an offer before closure, or who are claiming an incentive on Over 50s Life Cover. The deduction rule on early closure is the one to note: closing a plan within the first year can reduce what you get back.

Contacting Foresters and making a complaint

Foresters Friendly Society's website is www.forestersfriendlysociety.co.uk, the address listed on the public record for the firm³. With over 180 branches across the UK¹, some members also have access to local branch contact, though the Society's savings plans are administered centrally.

If something goes wrong, the Society's complaints process is straightforward. You can complain by telephone, letter, email or fax, whichever is easier for you, and there is no charge for raising a complaint⁹. Once the Society has your complaint, it will send a written acknowledgement within five working days stating the details of the complaint⁹. Within eight weeks of receiving your complaint, it will either give a final response or explain what is happening and when it expects to respond⁹.

If you are not satisfied with the final response, or if eight weeks pass without one, the Society will tell you about your option of referring the matter to the Financial Ombudsman Service, which is its Alternative Dispute Resolution provider⁹. The ombudsman is free to use and can look at complaints about the Society's savings and insurance plans. The consumer protection guide explains how the ombudsman fits into the wider system of redress.

How plans with Foresters are protected

The Society states that its plans are covered by the Financial Services Compensation Scheme (FSCS) for extra protection for customers¹, and it repeats this for its Stocks & Shares ISA⁵ and its Junior ISA plans⁶. The FSCS is the UK's statutory compensation scheme, and it is governed by the Policyholder Protection Rules¹⁰.

For a customer, the starting point is that FSCS cover depends on the firm having carried out a covered activity for you: the FSCS can only protect claims against mutuals and friendly societies that are within its scope, and where the firm was carrying out such an activity for the customer¹¹. Foresters meets that test: the firm behind the Society is recorded as authorised with effect from 1 December 2001, with registration number 110029³, and it appears on the Bank of England's PRA list of insurers incorporated in the UK authorised to carry out contracts of insurance⁸. The record also shows the firm holds the permission of accepting deposits³.

There are limits to be aware of. The FSCS notes that some mutuals and friendly societies only carry out activities that will not be protected by FSCS, such as housing associations, sports and social clubs and co-operative schools¹¹; that does not apply to Foresters' savings and insurance business, but it is why the Society's membership benefits, which sit outside the regimes covering its products, also sit outside FSCS cover. Separately, friendly societies have historically had access to a Friendly Societies Protection Scheme, a voluntary scheme approved under section 141 of the Financial Services Act 1986 providing cover at a level equivalent to the Policyholders Protection Scheme for comparable insurance company business¹². For a customer, the practical position is simpler: the Society's savings and insurance plans are covered by the FSCS, and the level of cover depends on the type of product, so the FSCS's own guidance is the place to check the current limits¹¹.

If the proposed transfer to Shepherds Friendly completes, protection does not lapse: FSCS protection follows the activity covered rather than the brand name, and the receiving society is itself a friendly society within the same framework. The consumer protection guide explains the scheme in full.

How it differs across the UK nations

Foresters Friendly Society operates UK-wide. It states that it has over 180 branches all across the UK¹, and its products, such as the Over 50s Life Cover open to UK residents aged 50 to 80⁸, are sold on the same terms across England, Scotland, Wales and Northern Ireland. Friendly societies are one of the registered types of mutual organisation in the UK, alongside co-operative societies, credit unions and building societies¹³, and that framework is the same in every nation.

Where the nations differ is in the wider help available around your money, not in the Society's own products. Local welfare assistance schemes vary from area to area and not all councils run them¹, and equivalent schemes in Wales, Scotland and Northern Ireland have different policy aims and eligibility criteria, so figures are not directly comparable between nations. The nations guide sets out where the rules on money genuinely differ across the UK.

For Foresters customers, the practical points are these: the Society's plans, its complaint process and its FSCS protection work identically wherever in the UK you live, and its branch network spans all four nations. Differences you might notice are in the surrounding support landscape, such as which welfare or advice schemes operate locally, rather than in anything the Society itself does differently by nation.