Standard Life launches online pension offering

The minimum contribution for the pension is £80 per month or one-off contribution of £800, with an AMC of 0.5-2%. Standard Life says the product allows investors to start, stop and make single payments, and invest in a full range of funds including the MyFolio portfolios. The launch coincides with Standard Life's redevelopment of its online systems to include a CustomerZone, in which investors can monitor their pensions, switch funds and alter payments. A Standard Life spokesperson says the new direct-to-consumer offering will not damage demand for IFA business, as engaging investo...