Death benefits more favourable with PPs

Scottish Equitable sees occupational drawdown almost always comparing unfavourably with its personal pension equivalent. Speaking at the group's London roadshow last week, Steven Cameron, pensions development manager at Scottish Equitable, said the group had no plans to launch an occupational drawdown product. Cameron said drawdown may be selected to maximise lump sum death benefits via personal pensions but this does not necessarily apply to the occupational regime. He said: "If an individual dies, their dependants can take the full fund as lump sum, subject to a 35% tax charge. That do...