Lifetime Annuities

Lifetime Annuities are designed to pay an income over the annuitant’s lifetime and can be purchased by international pension plans in cash or, in certain circumstances, by an in-specie transfer of assets subject to due diligence reviews on the underlying holdings.

Cavendish offers a Lifetime Flexible Annuity which means the annuitant has the ability to increase or decrease the amount of the annuity payments within parameters set by the actuarial calculations. The annuity offers no insurance element and the annuity payments are not guaranteed as they are linked to the underlying investment performance of the residual annuity assets. Cavendish does not provide investment management services but will work with the annuitant's advisors to implement a suitable investment strategy.

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.

Upon the death of the annuitant, any residual assets pass to the annuitant's nominated beneficiaries as either an ongoing payment of income or a lump sum, subject to the origin of the funds and professional advice being obtained on the most appropriate method of distribution. However, if the annuity continues to pay and the fund falls to zero, the annuity will cease.

For shorter term annuities please see our Fixed Term Annuities.