Lifeplan Education Investment Fund

The Lifeplan Education Investment Fund is a professionally managed savings investment product designed to build a nest egg to fund education expenses for children.

It covers primary, secondary and tertiary education fees and expenses including uniforms, books and school excursions in Australia and overseas.

Features and benefits:

Anyone can start a plan - parents, grandparents, uncles, aunts, godparents or friends
Children or students of any age are eligible
No entry or exit fees
Your choice of 7 leading Fund Managers and 19 investment profiles
Contribute either through an initial lump sum amount, or a monthly savings plan
Raise or lower your contributions according to your circumstances, without any fees or penalties
You are in total control of your money as you can access your money at any time, for any purpose
No withdrawal fees
There are special tax benefits not available in other investment and savings vehicles

Apply

You can also call Lifeplan Funds Management on 1300 1300 38 9am to 5.30pm, weekdays.

How does it work?

The Lifeplan Education Investment Fund is a special type of investment product which is classified as a ‘scholarship plan’ in
accordance with the Income Tax Assessment Act 1997. This entitles Lifeplan to obtain a tax benefit (which we pass on to you)
worth up to $30 for every $70 of earnings used to pay education expenses. Some other important features include:

The ability to choose to withdraw from contributions and investment earnings.
No annual tax return obligations for you or your nominated student, while your investment remains within the Fund

Unique design

Every individual plan is made up of two parts:

The first part records the balance of investor contributions in every individual plan and is referred to as the ‘Investor Contributions’ account. The investor can withdraw available funds from this account tax free, at any time and for any purpose

The second part contains the ‘Education Benefits’. Education Benefits comprise the ‘Investor Earnings’ account plus a tax benefit referred to as the ‘Education Tax Benefit’.

The Education Tax Benefit is only available when Investor Earnings are withdrawn to pay ‘education expenses’ and can be worth an additional $30 for every $70 of earnings withdrawn. Lifeplan pays you the Education Tax Benefit in your withdrawal.

When an investor makes a claim for education expenses, Lifeplan’s ‘EasyClaim’ withdrawal process will automatically calculate the withdrawal allocations between Investor Contributions and Investor Earnings accounts or, alternatively, you can choose the withdrawal allocations.

*Important information

This information has not been based upon the financial objectives, situation or needs of any particular investor. Before acquiring or deciding to hold the product you should obtain the PDS and consider whether the product is appropriate for you. The PDS for this service is issued by Lifeplan and available from Teachers Mutual Bank Limited.

This product is issued by Lifeplan Australia Friendly Society Ltd ABN 78 087 649 492 AFSL 237989. Teachers Mutual Bank Limited has an Agency Agreement with Lifeplan and receives an ongoing servicing commission of up to 0.36% pa of Members' average investment balances for the sale of this product and may receive other benefits such as training and marketing support.

Ensure you read the Product Disclosure Statement before deciding to acquire this product.

Lifeplan Education Investment Fund