Trust growth now applied monthly
Golden Charter has announced changes to the way growth is applied to set plan funds held in the independently managed Golden Charter Trust, benefiting independent funeral directors.
Trust growth is now applied to Golden Charter set plans on a monthly basis, rather than annually as was previously the case, aligning this with the way growth is added to Independent Way plans.
No matter when the plan holder dies in the year, or the brand of the plan, the Trust growth up to the previous month will now be added to the plan value funeral directors receive at the time of need.
This change, which was introduced by the Golden Charter Trust on 1 October, follows the alignment of the growth rates applied to Golden Charter and Independent Way branded plans to meet the Trust’s objective to pay at least long-term CPI on all plans, regardless of type or payment method. This doesn’t include plans paid by the fixed monthly payment option, where funds are paid to a policy managed by a UK life assurance company.
As announced earlier this year, the Trust annual growth rate for 2019/20 is 2.4%.
For more information, visit goldenchartertrust.co.uk.
Tags: CPI, Golden Charter, Golden Charter Trust, Independent Way, inflation, rate, Trust