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NU bolsters retirement range with drawdown

Norwich Union has added an income drawdown plan to its retirement range and has boosted its personal pension with 73 new funds.

The retirement solutions range allows customers to move between personal pensions, Sipps, income drawdown and wrap as their needs change.

There are now 199 funds available through the personal pension. The income drawdown option is available to new and existing customers where the sophistication of a full Sipp is not needed.

Head of pensions Iain Oliver says: “Sipps are a niche pension product designed primarily for sophisticated, high-net-worth customers. In essence, we are providing a wider range of pension customers with a lot of the control, flexibility and fund choice they are looking for with a Sipp at a more competitive cost.

“From extensive research, we identified that the majority of customers and advisers want access to a high quality and diverse investment range, the flexibility to take income as and when they need it and the convenience of seeing the value of the customer’s investments and money in the plan online.”


Nationwide and Legal & General start distribution partnership

Nationwide Building Society will sell Legal & General protection, investment and pension products to its members starting today.The strategic distribution agreement was made last year and Nationwide will sell L&G products via its 3,300 team of financial consultants. As part of the strategic agreement, L&G has completed the acquisition of Nationwide Life and Nationwide Unit […]

Standing firm after Matthews’ defection

Standard Life group chief executive Sandy Crombie says the change in strategy widely credited to outgoing head of UK retail Trevor Matthews was in place before he joined and will be unaffected by his departure.Matthews shocked the industry last week when he quit Standard to join Friends Provident as group chief executive.He is credited by […]

Prime Rate receives FSA approval for cash management funds

Prime Rate Capital Management has received approval from the FSA for its Prime Rate Cash Management Funds.These are liquidity sub-funds of which the company claims are the first UK domiciled qualifying money market funds. These are denominated in Sterling, US Dollars and Euros.Prime Rate funds will offer investors access to a secure and flexible alternative […]


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