Clerical Medical is launching an updated version of its inc-ome-drawdown retirements options plan, with a wider range of benefits and a simplified charging structure.
Changes include a wider range of investment funds from HBOS's asset management arm Insight Investment as well as external fund managers.
The new charging structure gives a 100 per cent allocation rate on all funds of £100,000 and over, with an additional 0.5 per cent allocation offer to the end of December. Funds over £200,000 benefit from a further fund bonus.
Commission options range from up to 1 per cent a year, initial commission of 5 per cent or a combination of both.
The plan is administered by James Hay and there is a full self-investment option.
Clerical Medical is offering an adviser support pack which includes guides for advisers and clients as well as separate brochures covering commission, charges and fund options.
Post-retirement planning marketing manager Nick Cooper says: “The retirement planning market is increasing in importance by leaps and bounds. To compete in the modern world of holistic financial planning, advisers need to have products that meet the wide range of requirements of their clients.
“Consumers are looking for flexibility and choice in their retirement and our retirement options plan is designed to meet the specific needs of consumers. Our technical and sales support to intermediaries advising on this complex area of retirement planning, tog-ether with these new attractive benefits, will enable advisers to offer the most up-to-date solution to their clients' retirement needs.”