Clerical Medical revamps drawdown Plan

Clerical Medical has revamped its income drawdown product to include a more flexible commission stru...

Clerical Medical has revamped its income drawdown product to include a more flexible commission structure and third party fund links for the first time. The updated Retirement Options Plan, previously known as Retirement Selections, has a single annual management fee set at a basic rate of 0.8%. The group said this mono charging structure, which conforms to initiatives such as the ABI's Raising Standards programme, is more transparent than the previous version, which combined separate initial and fund-based charges. While the plan retains initial and fund-based commission, there is mo...