Royal&SunAlliance to alter plans

Royal & SunAlliance is revamping its pension range offering lower charges and commission rates on most of its products. The life office is cutting the monthly policy fee and enhancing the allocation rate on five of its six pension plans. The changes apply to the group's personal pension, group personal pension, free standing AVC, contracted in money purchase scheme and group AVC. On each of these separate products the monthly policy fee falls to £2.64 from £3.95 while the allocation rate goes up to 100% from 95%. IFA commission rates on these products are being cut from 140% of Lautro...