Scot Life set for income release plan launch

Fully integrated within Scottish Life's Pension Portfolio proposition, the pensions specialist arm of the Royal London Group says the plan will offer the opportunity "to accumulate as well as decumulate", enabling clients to take a tax-free lump sum without the need to take income, and then continue to save for retirement. Where a client opts to take planned income payments, the plan features an innovative "Income Tap" facility. This transfers an agreed sum into a low risk fund, while the rest remains invested for long-term income and growth. The Income Tap can be topped-up pe...