Scottish Equitable is re-launching its executive pension plan with pre-stakeholder single-charge terms in the run-up to the onset of stakeholder in April 2001.
The new style EPP is part of ScotEq's range of single-charge individual pension plans which will be launched in the new year.
The EPP offers single-charge terms with a choice of annual charge and commission options, depending on the level of advice provided by the IFA. The plan offers a choice of terms with annual management charges ranging from 0.75 per cent through to 1.5 per cent which includes commission to reflect the amount of advice given by the IFA.
The new product will be supported by marketing aids designed for IFAs working with company directors.
Marketing director Ken Hogg says: “Scottish Equi table is one of the first in the market with a true single-charge executive plan with a range of annual charges above and below 1 per cent.
“We recognise stakeholder is driving pension charges down, however we firmly believe independent financial advice continues to play a crucial role in retirement planning. We have developed flexible terms through which IFAs can be remunerated according to the level of advice they are providing.”