Zurich is finally introducing its new pension offering more than a year after A-Day.
The company has made several changes to its flexible drawdown plan, including the introduction of a new protected rights drawdown facility.
This will enable clients to invest their protected rights and non-protected rights funds in the Zurich drawdown plan for the first time.
The company is introducing a nil-income enhancement – or an annual rebate – for customers who choose not to take income withdrawals from their drawdown plan.
Zurich is also launching its own self-invested personal pension, ending its partnership with James Hay.
The Sipp will give clients access to in-house funds, Funds Direct and four discretionary fund managers, including Seven.
Pensions director Dave Lowe says the firm hopes to tap into the strong growth in the nil-income drawdown market since A-Day.
It has published a range of guides to support advisers and their clients, which are available at www.zurichintermediarygroup.co.uk. The guides include information on Sipps, drawdown and funds.
Lowe says: “There was no point rushing something out to market. Just look at what has happened in the wrap market.
“We experienced technical difficulties and we wanted to get things right. Our long-term aim is to become the number one player in the drawdown market.”