Scottish Life revamps pension option

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Financial Services > Pensions > News

Scottish Life revamps pension option

Mon, 20 Nov 2006

Scottish Life is set to alter its self-invested pension account.

The long-term savings option, currently called Individual, will change its name to Pension Portfolio, while a number of the investment criteria will be altered.

Pension holders will now be able to select from over 1,000 funds, take advantage of an execution-only share dealing service and keep a number of other assets, such as commercial property.

Scottish Life claims that the pension option allows investors to maximise their returns while still operating within defined parameters of risk.

Barry Shields, head of individual business at the company, comments: "Pension Portfolio will continue to provide a flexible core proposition which is suitable for the majority of pensions savers, as well as offering additional options from an extended range of investments and services."

He added that the new option will continue Scottish Life's philosophy that customers will benefit from a pension which is tailored to suit their individual needs.

Scottish Life states that its mutuality allows it to offer maximum benefits to its customers, without shareholders or external ownership.

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