Standard Life to cut its charges

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Standard Life is to reduce charges for individuals in its existing occupational money purchase pensi...

Standard Life is to reduce charges for individuals in its existing occupational money purchase pension schemes. The changes, which will affect some 130,000 policyholders, will bring charges well below stakeholder levels, according to Barry O'Dwyer, pensions marketing director at Standard Life. He said: 'We are the first provider to cut charges on existing group schemes and it will be interesting to see other providers follow us.' The move will mean that all existing group schemes will now have a single charge that will typically range from 0.6% to 0.825% per annum. This heralds a...

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