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Selestia adds monthly option to pension plan

Selestia is adding a regular-contribution facility to its retirement account pension contract.

It has updated website functionality and made all application forms, including the direct-debit mandate, available online.

The Selestia collective retirement account has pulled in 160m since its post-A-Day launch and 90 per cent of business has been contracted online.

Minimum contribution is 300 a month or 3,600 a year on a gross basis. This can be paid by the investor, employer, third party or a combination of these. Selestia will also take lump sums to open an account followed by regular premiums.

Marketing director Bill Vasilieff says: “The introduction of the regular-contribution functionality, which has historically played a bit part in the world of personal pensions, further demonstrates Selestia’s commitment to the savings market and will enable us to move further transfer business from existing schemes where regular contributions are being paid.”

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