SCOTTISH Life plans to significantly increase the investment options on its personal pension, bringing the product closer to a SIPP in terms of flexibility.
As part of the move, the name of the product will be changed from Individual Personal Account to Pension Portfolio. The changes are being made in preparation for the launch of additional optional self-investment functions in December. The new facilities, due to go live next month, will include access to a fund supermarket with more than 1,000 funds from over 50 fund managers; an execution-only share dealing service; a panel of discretionary fund managers and the ability to hold other assets such as commercial property. Scottish Life, which is part of the Royal London group, said it...
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