View more on these topics

Pru relaunches into individual personal pensions

Prudential is relaunching its individual personal pension and will be following this with a Sipp proposition later on in the year.

The new IPP, the Prudential Flexible Retirement Plan. offers a flexible and transparent charging structure with a choice of commission options.

The cost of advice is directly linked to charges for both new personal pensions and transfer plans. Annual management charges range between 0.9 per cent and 1.7 per cent. The plan allows consumers and advisers flexibility on how much commission is to be taken, including fee-based, level, initial and fund-based commission.

There is also a scheme on offer that rewards customers for building up funds with Prudential. Charges reduce as the value of the fund grows and are automatically reduced after 5, 10, 15 and 20 years. The annual management charge could reduce by up to 0.55 per cent for long-term customers with large funds.

Director of pensions Andy Smith says: Our new plan is designed to meet the needs of all types of consumers and advisers. We already have a large book of pensions business covering a wide range of products and the new plan is an important addition to our range. We are currently reviewing our Sipp proposition in light of the confirmed regulation and expect to launch a new Sipp later this year.

Recommended

Mifid halts FSA moves to cut regulation

The FSA’s bid to strip back reg- ulation has been dealt a body blow by the EU’s markets in financial instruments directive. The regulator, due to publish industry feedback on propo- sals to streamline the training and competence and approved persons regimes last week, has put its plans on hold while it waits for the […]

Nvesta buys Eurolife voting shares to boost resale value

Nvesta is to distance itself further from parent company Eurolife by buying all its voting shares in a move aimed at raising its resale value. Nvesta’s management and a consortium of third parties will pay 300,000 in a deal that will leave management with 51 per cent of voting rights and control over the business. […]

Mortgage View: The crucial conundrum

There is something of the night about procuration fees. Even when used in reputable commercial businesses, it refers to a buying function rather than a remuneration for selling. Can we please start using the terms “lender fees” or “commission” to give them their true title?

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com