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Canada Life offers capital protection on standard annuity

Canada Life says it is the first provider to offer capital protection on its standard annuity contract.

Annuity buyers can take out a guarantee for the value of their fund which pays out if they die before 75. Until now, this guarantee has only been available for enhanced annuities.

The guarantee can be for joint or single life and for any amount up to 100 per cent of the annuity fund and, if triggered, will pay out the balance of the sum guaranteed less any income received.

Pensioners opting for the guarantee will have their income reduced by 2-5 per cent to pay for the guarantee depending on the level of protection they have chosen to take.

Annuity Direct director Stuart Bayliss says the option is welcome but will only be of limited appeal as most single life annuitants will expect to live past 75.


Maximum impact from Impax

Specialist environmental manager Impax Asset Management has introduced a fund that will invest globally in big and medium-sized companies that are developing products or services to solve the world’s environmental problems.

Offshore foundations key to avoiding non-dom tax, says SCF Group

Private interest foundations could allow non-doms to retain tax benefits and avoid the need to pay the new £30,000 tax exemption fee recently imposed by the Government.Trust and management firm SCF Group says non-domiciled UK residents can avoid the need to pay the fee by setting up private interest foundations in Liechtenstein or Panama. The […]

Credit crunch dire for transactional advisers says Bradbury Hamilton

Bradbury Hamilton believes the credit crunch could be “the final nail in the coffin” for transactional advisers.Managing director Sheriar Bradbury says treating customers fairly requirements and the retail distribution review are making advisers lives difficult. But he believes the slowdown in the housing market and the increased likelihood of a recession will have a big […]


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