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Canada Life aiming to double single premium pension sales

Canada Life IFA Division is increasing allocation rates in an attempt to double its market share in the single premium pensions market.


It says it is increasing the allocation rate of both its Flexible Pensions Bond and Trustee Investment Bond by 1 per cent until April 5 1999.


It says fee based IFAs will be able to achieve an allocation of up to 109.2 per cent for TIBs.


Non fee based IFAs can adjust the balance between loyalty bonus, commission and allocation rate. The maximum initial loyalty commission is 6.2 per cent and the spread offer is 5 per cent.


IFAs can chose from 16 investment funds managed by either Mercury Asset Management or by Canada Life&#39s in-house investment team.





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