Lincoln Financial Group has removed the administration fee on its retirement proposition Lincoln i2Live.
Previously, the administration fee was £100 a year but the cost has been shelved for those taking out a new Lincoln i2Live policy and will apply at the next yearly review for existing customers.
The change is a result of IFA feedback and a review of expenses, says the firm. It halved the admin fee for the product last year.
Lincoln i2Live offers customers a range of flexible options to take them through each stage of retirement planning. It includes a personal pension plan, an income drawdown and an investment-linked flexible annuity.
The product allows clients to accumulate a retirement income pot with a range of flexible options on taking an income in retirement. It also offers an Income Guarantee Option.
More information is available at: www.lincolnuk.co.uk.IFAonline
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