Fixed Term Annuities

Cavendish offer a fixed, short term annuity contract which can be purchased by international pension plans. The term of the annuity is fixed at outset for between three and ten years (for longer term contracts, please see our Lifetime Annuities) as is the income profile. Members can elect to take a level amount of income over the term of the annuity contract or on a more bespoke basis in line with the needs of the annuitant. For example, a four- year annuity can be structured to pay 25% per year, or 70% in year one followed by 10% in years two, three and four.

Upon the death of the annuitant the fixed term annuity will continue to pay income to the individual(s) nominated by the annuitant in their expression of wishes within the application until such time as the fixed term has concluded.

All annuity payments are made with no local tax withholdings meaning the annuitant receives 100% of the annuity payment which they will need to declare to the relevant tax authorities where necessary. All payments made to annuitants will be declared in accordance with CRS and/or FATCA reporting obligations. The annuity is guaranteed for the period and is held on custody with highly rated banks and financial institutions and not on the balance sheet of Cavendish.