Scottish Life is stepping up its efforts to win group pension business by offering to undercut rivals' rates on existing GPP schemes.
The company is telling IFAs that if their clients' sche mes are large enough, then lower terms may be negotiable.
The move is part of the life office's strategy to use its added financial stren gth following the £1.1bn acquisition by Royal Lon don to chase new stakeholder and group pension business more aggressively.
ScotLife says it is determined to get a good share of quality business and is hoping to achieve this by providing extremely competitive product pricing.
It also has two special offers on new schemes and transfers to run alongside the current “Con tribution Count down” and “Your worksite marketing pack” marketing campaigns.
Scottish Life senior pro duct marketing manager David McKenzie says: “Cli ents want to know their pension savings are working as hard as possible for their retirement.
“Our sales consultants will be very happy to provide quotations for specific cases. They can also give guidance as to which types of pension schemes are most likely to benefit from the special offer transfers.”