Scot Life pension range offers fee charging option

range offers 48 fund links including 14 externally managed portfolios

Scottish Life is to introduce a fee-based remuneration option, not liable to VAT, to its Individual personal pension range. The Financial Adviser's Fee option is effectively a halfway point between commission and fees. Launching on 1 May, the Individual range allows advisers to specify a predetermined amount with clients as an initial fee for advice, paid from within the plan in a similar way to commission. Payment of fees in this way should ensure they are not liable to VAT. The fund also benefits from pension contribution tax relief prior to deduction of the fixed amount. This means...