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Mini insurance Isa for healthcare workers

The Royal National Pension Fund for Nurses has set up an Isa exclusively for healthcare workers.

Oneisa is an insurance-based with-profits mini Isa which allows savers to invest up to a £1,000 per tax year.

The RNPFN says it has had 4,000 requests for application packs and expects that number to grow.

This is the pension fund&#39s first Isa product and its first new product in several years.

The plan has no initial charge although there is a 2 per cent annual management charge for lump-sum investments or a flat fee of £1 a month for regular monthly savings. There is no commission for IFAs.

Chief executive David Davies says: “This is an exciting development for the RNPFN which combines our proven methods of achieving high savings returns with the latest tax-free savings allowances.”

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