Clerical Medical have launched new stakeholder-style contract terms as an additional option in its group pension product Staff-Link.
The move follows its provision of pre-stakeholder support measures for IFAs designed to secure a major position in the stakeholder market.
The new stakeholder-style price ranges from a 1 per cent reduction-in-yield for a basic scheme where commission is taken, down to 0.55 per cent RIY for larger schemes where commission is waived.
Sales development manager Martyn Nethercott says: “IFAs will look to offices with the financial strength to compete long-term in such a competitive market. I think they will have to reject those whose ambition is not matched by their financial position.”