Norwich Union cuts pension rates

The provider will lower the rate for the Norwich Union Stakeholder Pension for new customers from 1.5% to 1% a year. It will also reduce the base charge for both products from 0.7% to 0.55% a year. Iain Oliver, head of pensions at Norwich Union, says: “The new charges on our individual pensions will make it simple for advisers to compare the value of Norwich Union Stakeholder Pension and Individual Your Pension Select to match a client’s needs.” To comment on this story contact: Jennifer Bollen Reporter Tel: 020 7034 2679 E-mail: [email protected] IFAonline