Pensions firm Scottish Equitable, has performed a facelift of its stakeholder products for both group and individual pensions.
The enhanced product range includes a stakeholder plan, with a maximum 1.5% annual management charge reducing to 1% after 10 years, while the firm has also extended the increase in price cap to its range of group and individual pensions.
The new charging scheme provides greater diversity for commission based advisers, says Scottish Equitable, and will sit alongside its existing pension range - which includes a flat percentage charge structure and also a no commission structure for fee based advisers.
Moreover, the firm has introduced a menu to aid consumers over the value and cost of advice.
Scot Eq is also providing advice on its pre-retirement Self Investmente Personal Pension and the Flexible Pension Plan for individuals requiring more complex investments.
Andy Marchant, managing director for individual pensions and investments, at Scot Eq says: “The launch of these new product shapes widen our range giving clients and their advisers maximum flexibility in agreeing how much advice is needed and how they want to pay for it.”
April saw Scottish Life, the pensions arm of Royal London Group launch an extension of its Financial Adviser’s Fee to group pensions.
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