Aviva to launch mid-market pension proposition

The provider currently charges a flat fee of 25bps for ISA and general investment accounts on the wrap, with a tiered charging structure for SIPPs beginning at 50bps for investments of less than £50,000, sliding down to 20bps for £450,000 or more. The new mid-market offering, which it said would be introduced pre-Retail Distribution Review (RDR), will also operate a tiered model, but at a lower cost than its full SIPP business, competing with fellow providers Aegon and Scottish Life. Phil Ralli, senior marketing manager at Aviva, said the company had been focussed on repositioning its...