Scottish Life has extended the range of fund links available through its Crest Growth Pension Plan f...
Scottish Life has extended the range of fund links available through its Crest Growth Pension Plan for group occupational schemes and has altered the charging structure.
For the money purchase version of the plan, the life office is offering access to its Select range of fund links, including a range of external links from Fidelity, Perpetual, Schroders and Phillips & Drew. Each investment house offers a managed and a UK equity fund link, taking the number of funds available through this option to 23 from 15.
Scottish Life is also adding 'cautious' and 'opportunity' retirement investment strategies to the existing balanced strategy available on this contract. Each of the investment strategies offers investment lifestyling, with the 'opportunity' strategy, for example, starting off fully invested in UK equities, followed by a phased switch into a managed fund and then a phased switch into Scottish Life's fixed interest and cash funds.
On final salary versions of the Crest Growth Pension Plan, Scottish Life is offering access to five fund links it has recently launched, including UK Tracker, UK Mid Cap and UK Ethical which are run by Scottish Life, as well as Phillips & Drew's UK equity and managed funds.
Both pension contracts offer the ability to tailor the annual management charge, allowing the annual management charge on the plan to be cut and enabling brokers to make direct comparisons with competitor products. The standard annual management charge is 1% and this can be reduced to a minimum of 0.25%.
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From 1 March