Clerical Medical offer additional commission option

The Stepped Charge Option plans to make use of the current stakeholder regulations which allow for an increased charge cap of 1.5% annual management charge (AMC) for a maximum of 10 years, after which it falls to 1%. Clerical Medical says the new charge allows advisers to take up the option of setting an increased scheme charge for new schemes and for the first time take the extra money as additional commission to pay for the advice they provide. It says this allows the adviser to offer greater flexibility and choice in the way they can design group pension schemes, while remaining in t...