Standard Life has two new pensions products which are similar to existing pension plans but give con...
Standard Life has two new pensions products which are similar to existing pension plans but give consumers greater flexibility on the amount and timing of their contributions, as well as protection of capital in some cases.
The Personal Pension Flex (PP Flex) and Group Personal Pension Flex (GPP Flex) are largely the same as Standard Life's existing pensions products, however, there are one or two key differences, including a guarantee that with-profits clients will get back at least the capital they put in.
Investors can now invest anything from £20 per month up to the Inland Revenue limits but do so when they like, and however they like, and do so with costs incurred to fall under the 1% AMC.
Any with-profits policyholder into the new products also receives a "0% guarantee" or capital protection so investors at least get back whatever they put in, even if a market fall prior to taking retirement benefits reduces the fund's value to less than its starting capital.
At least 100% of all capital will also be used to purchase units, says a spokesman for Standard Life.
Existing pensions commission rates will apply - contact you Standard Life broker support for more details.
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