Scottish Life to extend FAF to group pensions

The launch falls in conjunction with a general restructuring of commission options for its Retired Solutions range of pension arrangements, to be available from the beginning of July. The new products will enable advisers to select a befitting remuneration at scheme or individual level, to be funded by explicit charges from the product, the group says. A FAF enables IFAs to apply remuneration to the work done for individual cases, including the option to move outside the 1% annual management charge (AMC), other than for stakeholder plans. It charges commission upfront, instead of increa...