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Friends Prov enhances pensions products

Friends Provident is enhancing its Pension Investment Bond and Retirement Investment Bond products.

The Pension Investment Bond will now offer loyalty bonus units of 0.25 per cent after ten years; a regular annual withdrawal facility of up to 7.5 per cent from the start of the plan both penalty and MVA free, and higher allocation rates on premium size from 108.3 per cent to 109.8 per cent.

Improvements to the Retirement Investment Bond include a loyalty bonus of 0.25 per cent after 25 months, a regular annual withdrawal facility of up to 7.5 per cent MVA free, and a reduced policy fee.

Friends Provident product manager, executive pensions Nigel Hancock says: "The improvements mean we can now offer two plans at the same market., or for those who operate in those markets."

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