Cheshire and Zurich launch new products

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Cheshire and Zurich launch new products

A new Guaranteed Capital Plus Account has been launched by Cheshire, just as Zurich announced its new individual pensions trust.

Cheshire's new account, available until August 28th, allows investors the potential for a growth up to 60 per cent over five years, depending on the FTSETM index's performance.

Investors' capital is 100 per cent secure and they are guaranteed a minimum growth of 21.5 per cent gross at maturity, if held for the full five year term.

Spokesperson Frank Harrington said the account offered "the best of both worlds in an uncertain market".

Meanwhile, Zurich has launched two pensions trusts for greater flexibility.

The Pensions Discretionary (two-year) Trust forces benefits to be paid within two years of death, avoiding inheritance tax liability.

If it is not appropriate to pay out within two years of death, there is the Pension Discretionary (80-year) Trust.

This might incur inheritance tax but the lump sum can be kept and invested inside the trust for up to 80 years, allowing the spouse access via an interest-free loan.

Dave Lowe, pensions management director said that "choice, control and flexibility are crucial factors".
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