UK - Scottish Equitable has launched a new flexible personal pension plan aimed at high net worth individuals.
It says the plan is designed to remunerate the adviser for the advice given and offer clients the potential of outperformance in relation to conventional single-priced products.
The scheme also offers a self-investment option which will be further developed to provide access to a fund supermarket covering over 500 funds run by 30 fund management houses.
Scottish Equitable head of individual marketing Douglas Jones said: “Downward pressure on charges is squeezing advice out of the market and advisers are seeking new solutions.”
The Pension Protection Fund (PPF) is consulting on proposals to charge a "risk reflective" levy for commercial defined benefit (DB) consolidation vehicles.
The funding gap across FTSE 350 schemes could be slashed by as much as £275bn if schemes look beyond traditional ways of creating value. Victoria Ticha examines how
There will be "many flavours" of defined benefit (DB) consolidators but consolidation will only be the right answer for a minority of schemes, Alan Rubenstein says.
Work and Pensions Committee (WPC) chairman Frank Field has questioned the regulator on what lessons it can learn from the experience of the Kodak Pension Plan No.2 (KPP2).