Lincoln Financial Group has launched a low cost alternative to stakeholder called Personal Pension D...
Lincoln Financial Group has launched a low cost alternative to stakeholder called Personal Pension Direct (PPD) with a management charge of 0.9% and 100% allocation rate.
The product, which has no initial charge, and has a monthly £2 charge when no further contributions are to be made on a regular premium policy.
PPD has a minimum monthly contribution for new customers of £50, and £30 for existing Lincoln customers. The minimum for single contributions is £2,000 and £300 for subsequent top ups.
The product is linked to a range of external funds and these are divided up according to one of several different risk levels. There are six funds categorised as balanced, seven as cautious and 12 as aggressive. The range also includes a green fund, index linked gilts, a property fund, UK equities, emerging markets and unitised with- profits. Policyholders are allowed one free switch per year.
External fund managers include Goldman Sachs, Jupiter, Lazards, Schroders, Invesco Perpetual and Framlington.
Industry Voice: Scottish Widows pension expert Robert Cochran and economist Andrew Scott discuss the future of employment and income, in episode three of Scottish Widows' podcast series.
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