R&SA to focus on simpler products

Royal & Sun Alliance (R&SA) has withdrawn its with-profits fund option for new pension members in order to focus on simpler, more transparent products.. The with-profits option was withdrawn from the R&SA Lifestyle Investment bond and non-stakeholder pension products on 1 January 2002 in a bid to pre-empt the increased costs with-profits funds are expected to face as a result of tighter regulation and greater transparency. Funds will remain open to allow current policyholders and pension schemes to continue making contractual payments. As part of the group's strategy for 2002 UK life...