Trust growth now applied monthly for all Golden Charter plans

From the 1 October, Trust growth is applied to Golden Charter set plans on a monthly basis, rather than annually as was previously the case. This now aligns with the way growth is added to Independent Way plans.

No matter when a plan holder dies in the year or the brand of the plan, the Trust growth up to the previous month will now be added to the funeral director invoice amount (FDIA) value that our members receive at the time of need.

This change, which was introduced by the Golden Charter Trust, will benefit all our members nationwide, and it follows the alignment of the growth rates applied to Golden Charter and Independent Way branded plans to meet the Trust’s objective to pay at least long term CPI on all plans, regardless of plan type or payment method.*

The Golden Charter Trust announced earlier in the year the growth rate to be added for 2019/20 is 2.4%. The latest information about the Golden Charter Trust is available within the Golden Charter Annual Review 2018/19, which is available here.

*This excludes plans paid by the fixed monthly payment option, where funds are paid to a policy managed by a UK life assurance company.