Intelligent Pensions has launched an advised flexi-access drawdown plan designed for defined contribution schemes that will not be offering members the new option within the scheme.
The 0.75 per cent annual charge covers adminstration and investment management costs. The products is aimed at pension pots worth £100,000 and over, which will have a 1 per cent set-up fee applied.
Funds below £100,000 will be charged a flat set-up fee of £1,000.
James Hay will administer the plan.
Intelligent Pensions managing director Steve Patterson says: “Ongoing risk management is second only to initial suitability and anyone who thinks of drawdown as a DIY process is highly likely to come unstuck with potentially disastrous effects.”
He adds: “One size fits all solutions are no longer appropriate – everybody’s retirement will be different. To achieve the best possible retirement outcomes a far more personalised approach is needed and our DC solutions deliver exactly that.”