From 1 July to 30 June 2012, all new Retirement Account cases valued between £20,000 and £500,000 will benefit from a service charge reduction of up to 25%.
Total value of Retirement Account
(£ from - less than) | Original service charge
(% per annum) | New service charge
(% per annum) |
| 0–20k |
0.60 |
0.60 |
| 20k–30k |
0.60 |
0.50 |
| 30k–50k |
0.40 |
0.35 |
| 50k–100k |
0.40 |
0.30 |
| 100k–300k |
0.35 |
0.28 |
| 300k–500k |
0.30 |
0.28 |
| 500k–750k |
0.25 |
0.25 |
| 750k–1m |
0.20 |
0.20 |
| 1m–2m |
0.15 |
0.15 |
| 2m+ |
0.10 |
0.10 |
The new service charge rates will apply to all new business cases with illustrations dated between 1 July and 30 June 2012. Existing Retirement Account policyholders will remain on the terms applicable at the start date of their policy.
Benefits for you and your clients
With these reduced rates a 45 year old can invest £50,000 in Retirement Account, with a fully governed lifestyle investment option built in, for an annual charge of only 0.4% (this includes a 0.1% Total Annual Fund Charge for Governed Investment Strategy).
Next steps
Don't miss out on this special offer, produce a new illustration now.
Illustrate now
Find out more about Retirement Account, including the RDR-focused charging options.
