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R&SA joins pension commission battle

Royal & Sun Alliance is the latest provider to join the pension commission

war in a bid to win market share ahead of stakeholder.

The move is part of the company&#39s aim to triple its market share of the

group pension market by 2004.

It is launching new group personal pensions and contracted-in

money-purchase schemes paying commiss- ion of up to 90 per cent of Lautro

rates.

The new plans offer IFAs the choice of charging str- uctures, including an

opt- ion of a 0.7 per cent ann- ual charge for bigger schemes of 100

members or more.

This version offers an allocation rate of between 95 and 100 per cent,

depending on the type and level of commission taken by the IFA.

The second version, which is available on an individual and group basis,

features a 5 per cent initial charge, 0.5 per cent annual charge and a

£2.64 a month policy fee.

Asset accumulation leader Mark Birks says: “We are fully committed to

being a key player in the stakeholder market. As one of the first providers

to introduce level-load charges to our pensions in 1995, we have always

sought to offer excellent value to IFAs.”

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