Life Trust launches Longevity Income Plan

The plan responds to the increase in life expectancy, which will see today's 40-year olds having to live on their savings and investments for 30 years or more, and the fact that in retirement people face declining income, capital erosion and increasing costs, by providing a rising income the longer the individual lives. The plan allows for a lump sum investment of between £5,000 and £1m which is held for a minimum of ten years prior to its vesting start date. The Plan can be selected to become effective from age 75 or 80 and income is paid for a maximum period of 20 years. The lump sum ...