Zurich launches new junior ISA and pension
January 21, 2019
Leading platform provider Zurich has launched a junior ISA and pension offering a ‘cradle to grave’ investment solution for advisers and their clients.
Parents and guardians can open a junior ISA on behalf of a child aged 17 or under, and anyone can pay in to it, up to the maximum of £4,260 a year.
The junior retirement account is available to parents and guardians with children aged under 18, and allows anyone to contribute up to the £2,880 annual limit, which is worth £3,600 after 20% tax relief.
Alistair Wilson, Zurich’s Head of Retail Platform Strategy, said: “MIFID and other recent regulatory reforms have taken up considerable development time for platforms.
“Despite this, we remain focussed on continuing to evolve our platform to meet the changing needs of advisers and consumers.
“The impending transfer of wealth from baby boomers to younger generations is likely to trigger a significant increase in demand for intergenerational planning.
“Our new junior pension and ISA will help parents and relatives pass on their accumulated wealth tax efficiently, giving their loved ones a head start in life, whether that’s buying a home, paying university fees or saving for retirement.
“For advisers, these products also give them an opportunity to connect with their client’s heirs. By building trusted relationships with beneficiaries, advisers can help families to preserve their wealth, as well as enhancing their own prospects of managing assets across generations.”
Investors in Zurich’s junior ISA and pension will have access to more than 3,600 funds from more than 180 fund managers.
They will also be able to take advantage of family linking of accounts, allowing multiple generations to benefit from lower charges.
Charges for both products are the same as for Zurich’s platform, a tiered annual fee based on a customer’s portfolio value.
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Chris Johnson, Media Relations Manager
07812 265 245, email@example.com
Notes to Editors
Zurich in the UK
Zurich provides a suite of general insurance and life insurance products to retail and corporate customers.
We supply personal, commercial and local authority insurance through a number of distribution channels, and offer a range of protection, retirement and savings policies available online and through financial intermediaries for the retail market and via employee benefit consultants for the corporate market.
Based in a number of locations across the UK - with large sites in Birmingham, Farnborough, Glasgow, London, Swindon and Whiteley - Zurich employs approximately 6,000 people in the UK.
Our Corporate Responsibility strategy aims to create value for both our company and for society as a whole. We use our core skills, risk and investment management expertise, to have a positive impact on both. For more information about the Zurich's commitment to Corporate Responsibility and the Trust's work, please visit our website here.
Zurich Insurance Group (Zurich) is a leading multi-line insurer that serves its customers in global and local markets. With about 53,000 employees, it provides a wide range of property and casualty, and life insurance products and services in more than 210 countries and territories. Zurich’s customers include individuals, small businesses, and mid-sized and large companies, as well as multinational corporations. The Group is headquartered in Zurich, Switzerland, where it was founded in 1872. The holding company, Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. Further information about Zurich is available at www.zurich.com.