Scottish Amicable revamps charges

Scottish Amicable has restructured the charges on a range of its pension products, including its Flexible Retirement Portfolio, GPPs and selected single contribution pensions The group's income drawdown plan, which is part of its Flexible Retirement Portfolio, does not have a bid-offer spread. Instead the charges are some 0.13% of the premium paid monthly over a five-year period As of last week, the group has lowered the establishment charge period from five years to three years and has also moved the initial charge to 0.15% per month making the combination of the changes equivalent to an...