ScotWids drawdown flexibility

Scottish Widows has revamped its unitised annuity, income drawdown and phased retirement plans to offer customers more flexible options. With immediate effect all unitised annuity rates will increase by 1% and at the same time initial commission will be increased from 1% to 1.5%. At the same time Scottish Widows' annual management fee increases from 0.875% to 1%. A guaranteed minimum income will also be applied to all unitised annuity investments into the with-profits fund. Prior to the change, there was no floor in the amount by which the income from the with-profits pension annuity coul...