Mercury Life to introduce trail charge

Mercury Life is introducing trail commission on single contributions to its personal pension plan starting on 1 October. Roderic Rennison, retail director at Mercury Life said: "The 0.5% trail is payable half yearly on 1 September and 1 March. Trail commission is the most cost effective way of remunerating IFAs as long as there continues to be VAT on fees and until individuals can offset the cost of advice against tax as they can in other countries. Mercury Life, which marks its tenth anniversary at the end of August, is also introducing enhanced transfer terms into its personal pension f...