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R&SA offers low-charge trustee plan

Royal & Sun Alliance UK Life & Pensions is introducing a low-charging trustee investment plan in a bid to strengthen its position in the IFA corporate pensions market.

The product is designed to follow the trend towards maximum 1 per cent charges across the market for trustee investment plans and executive pension plans.

Flexible fund-based commission options available on the new product are designed to allow IFAs and their clients to tailor the charges and commission to their individual needs.

The annual management charge is 0.8 per cent, reducing in 0.1 per cent stages as the fund value increases. This means that customers with funds above £500,000 will be charged 0.4 per cent a year.

The new product accepts only single premiums, with a minimum investment of £10,000.

Maximum investment into the unitised with-profits fund is £1m but there is no upper limit for investments into any of the unit-linked funds.

There are initially 12 funds for trustees to choose from, which range from the low-risk cash deposit fund through to the specialist Eurotech fund.

IFA corporate promotions leader Andy Milburn says: “This plan is designed to provide the ideal solution for trustees looking for a cost-effective and flexible investment managed by professional fund managers.

“It provides IFAs and their clients with an excellent combination of competitive charges and investment management.”


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