Legal & General is offering a single-charge pre-stakeholder individual personal pension.
It is targeted at savers who are looking to maximise any unused tax relief before carry-forward is abolished on April 5 this year.
L&G says it expects an increase in the number of people looking to top up their pensions by paying a lump sum into their personal pensions ahead of the end of the tax year and of carry-forward.
In April, the rules which have allowed unused tax relief for the past six years to be carried forward to the current tax year are being changed to effectively stop this facility.
The single-tiered annual management charge for the new product is 1 per cent on pension funds up to £25,000, 0.8 per cent on funds between £25,000 and £50,000 and 0.6 per cent on funds over £50,000.
For fee-based advisers, these charges reduce to 0.6 per cent, 0.5 per cent and 0.3 per cent respectively.
Maximum monthly contributions are restricted to £300.
L&G says it is choosing to launch the single-tiered charging pension now so IFAs can give clients the benefit of stakeholder charges ahead of the scheme's April launch.
Pensions marketing director Andy Agar says: “Because the facility to carry forward any unused tax relief will be abolished in April, people will want to take maximum advantage of this facility by paying a lump sum into a personal pension and get the benefit of our tiered stakeholder at the same time.”