Scottish Life helps clients with larger pension pots

Under the new structure the annual management charge (AMC) has been reduced for larger funds, for example for a fund of £50,000 the charge will be 0.45%, compared with 0.56% previously. Scottish Life says the new charging structure is also simpler and clearer than previous structures, making it easier for IFAs to explain charges to their clients, and allowing a simpler competitor comparison. "From feedback we've received from IFAs, we felt that the existing structure was proving a little too complex; so we've made a number of improvements," explains Keith MacPherson, head of market...