Standard Life has confirmed that trail commission will be switched off on 12 of its legacy products where clients increase or restart regular payments, even if the activity is non-advised.
Affected products include the provider's Personal Pension Plan, Personal Pension One, Personal Pension Flex and the Flexible Pension Plan. The products make up less than 5% of the company's legacy book. Ross Easton, Standard Life head of Retail Distribution Review (RDR) proposition implementation, said: "Despite comment to the contrary, we are not stopping the payment of trail commission across our legacy book of business on a blanket basis. "Trail commission will continue to paid unless a small number of transactions are carried out. Advisers should also be absolutely clear about ...
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