AXA Wealth Management has added a discretionary trust option to its stakeholder, personal pension and self-invested pension wrappers.
The discretionary trust allows customers to hold funds for up to 80 years after the investor’s death before vesting and to pass pension assets to dependents, helping to minimise inheritance tax (IHT) exposure.
Tony Moore, head of retirement development at AXA Wealth Management, says: “Clients' needs naturally change over time and we have developed a solution that can take them through their lifecycle, building capability as their fund grows.
“People want to see the benefits of saving hard for their own financial security, without having to worry about IHT liability on their death prior to vesting, and this provides just that."
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