Investec Structured Products has improved the terms of its Capital Guaranteed FTSE 100 Income Plan.
New applicants and those already subscribed to the current plan 2, which opened on 1 June, will see the annual income payments increase from 6% to 6.4%.
Similar enhancements will apply to the monthly and quarterly income options, which will increase to 0.5% and 1.55% respectively.
The objective of the Plan is to provide regular income payments over five years that deliver returns in excess of cash deposits.
Gary Dale, head of intermediary sales, says the improvements reflect Investec's flexible business model.
"In a nutshell, we want to avoid IFAs waiting for improved terms and we certainly do not want clients committed to the existing Plan 2 feeling disadvantaged. Plan 3 will reflect the new improved terms and clients supporting the existing Plan 2 will benefit also. I believe this underlines our commercial intention to offer continuously available competitive plans in a fair and transparent way."
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The increase in minimum AE contributions has had little impact on opt-out rates - with cessations after April increasing by less than two percentage points, data from The Pensions Regulator (TPR) shows.