Scottish Amicable has restructured the charges on a range of its pension products, including its Fle...
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 enhanced allocation of 1.75% of the total contribution
The allocation rates for selected single contribution pensions have also been enhanced by an increase in the allocation rate from 100% to 101.5% for contributions of £10,000 or over. Allocation rates on the executive pension plan for investments of £10,000 to £25,000 have been increased to 101
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