Scottish Life has launched a plan to allow customers to release pension funds before retirement.
The provider says Income Release, which it offers within its Pension Portfolio, responds to demand from the baby boomer generation for free access to savings and takes advantage of A-Day legislation changes on pension flexibility. The plan allows customers to take a tax-free lump sum after age 50, or 55 from April 2010, while still building up their pension fund. Keith MacPherson, head of individual business at Scottish Life, says: “Income Release provides an integrated unsecured pension option which allows the adviser and client to consider fully or partially crystallising the pension ...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes