AIG Life has cut the annual management charge on its trustee investment plan for new and existing in...
AIG Life has cut the annual management charge on its trustee investment plan for new and existing investors by 0.5%.
The annual management charge on the Trustee Guaranteed stock market bond is being reduced to 1% from 1.5%.
The product is targeted at trustees of company pension schemes, SSASs and Sipps.
The standard allocation rate on the product is 101% for investments between £10,000 and £49,999 and 101.5% for investments of between £50,000 and £99,999. For investments of £100,000 and up, the allocation rate is 102%.
Extra allocation is offered to those putting money in before 6 July. For investments of between £10,000 and £49,999 made before 6 July extra allocation of 0.5% is offered. Extra allocation of 1.5% is available on investments between £50,000 and £99,999 while the allocation bonus goes up to 2.5% for investments of over £100,000. There is a bid/offer spread of 5% on the product.
Nigel Hewett, investment marketing director at AIG Life, said: "Management charges have been reduced across the pensions product range, not only for new investors but also for existing policyholders. The reduction in the annual management charge combined with the flexibility offered by this plan makes it an ideal vehicle for pension trustee investments."
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