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ScotMut helps IFAs target retirement market

Scottish Mutual is redesigning its Complete Retirement package which is aimed at helping IFAs target the flexible retirement market for high-net-worth clients.

The package consists of a range of tax-efficient products such as income drawdown and phased retirement aimed at higher-net-worth investors with £100,000-plus to invest.

New additions to the package include the contemporary occupational withdrawal and the contemporary protected rights income-withdrawal plans. There is also a new charging structure which includes 100 per cent allocation and a 1 per cent annual management charge

ScotMut estimates that the market for these products is worth £13bn a year and that only 30 per cent of maturing pension funds are currently used to buy flexible benefits.

To support the relaunch, ScotMut is embarking on a marketing campaign in the trade press and via direct mail. There is also a marketing support pack providing IFAs with sales ideas.

Abbey National for Intermediaries director Ambrose McGinn says: “The Complete Retirement package offers access to one of the widest ranges of pension funds in the marketplace and is particularly attractive for its extensive range of underlying investments and its transparent charging structure. The real beauty of CRP is that while it is easily one of the most sophisticated investment tools of its kind, the principle on which it operates is extremely simple and is very easy to understand.”


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Wednesday, 19 March 2003 Type: Guaranteed equity bond Aim: Growth linked to the performance of the FTSE 100 index Minimum-maximum investment: £1,000-no maximum, £7,000 Isa Term: Five years six months Guarantee: Capital returned in full regardless of the performance in the index Return: 70% of growth in index Closing date: April 25, 2003 Commission: Initial […]

FSA turns attention to projection rates and Tep market

The FSA is to consult on projection rates and review the traded endowment market later this year.Both consultations are mentioned in a comprehensive list of regulatory initiatives included in this month&#39s handbook development newsletter.The regulator says it has undertaken to look at projection rates every four years and the consultation planned for June is part […]

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There was an interesting theory being touted by many young, straight out of Oxford merchant bankers a couple of years ago.Indeed, we were “flattered” to be approached with this wonderful get rich quick idea.They came along to me and said: “Peter, you should just expand your number of IFAs.”It did not seem to matter whether […]

Pension cap could turn away savers

Mounting a defence of people with pension pots likely to exceed £1.4m in the court of public opinion is not an easy task.These well-off and presumably dedicated savers stand to lose from the Pensions Green Paper but there is an escalating row over how many of them there are.The Treasury is wedded to its original […]

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Johnson Fleming set to host webinar on auditing auto-enrolment schemes

With 23 auto-enrolment compliance notices issued by the Pensions Regulator, and an evolving legislative landscape meaning previously compliant schemes may now be in breach of regulation, now is the time to think about auditing your auto-enrolment scheme. Johnson Fleming is hosting a webinar on 9 October at 11:00 on how to audit your scheme to ensure compliance, avoid breaches and fines and overcome data issues.


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