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What is it?

Choice. Flexibility. Control.
The benefits of our Flexible Pension Plan (FPP) are clear.

Designed for the more sophisticated investor, our FPP has all the benefits of a conventional pension plan, with the added flexibility of a self-invested option. So your clients can adapt their investments whenever they like.

Investment choice

  • Insured
    More than 140 funds to choose from, with a variety of risk profiles.
    Read more
  • Self-invested
    Give your clients greater control over their investments.
    Read more

Commission and charging options

With our bespoke commission and charging structure, we start with a base annual management charge (AMC) that assumes no commission is paid. This means you can offer the product to your clients on a fee basis. If you prefer, you can build a bespoke charging structure around the agreed commission levels using:

  • a five-year establishment charge (EC)
  • a one-year financial adviser charge (FAC)
  • an additional AMC
  • a combination of an FAC and additional AMC

The table below gives you an 'at a glance' guide to some of the commission options available for regular and single contributions.

  EC FAC Additional AMC
Regular* Single** Regular Single Regular# Single##
Initial commission (IC) only 75% x Lautro IC 6% IC if term >5 years 1% IC: 1% FAC (maximum 50% IC) 1% IC: 1% FAC (maximum 8.5% IC) 2% IC: 0.1% AAMC (maximum 10% IC) 1.3% IC: 0.1% additional AMC (maximum 6.5% IC)
IC and renewal 60% x Lautro IC and 2.5% renewal n/a Up to 45% IC and 2.5% renewal n/a Up to 5% IC and 2.5% renewal n/a
IC and implicit fund-related commission (IFRC) 50% x Lautro IC and 0.1% IFRC 5% IC & 0.1% IFRC  if term >5 years 1% IC: 1% FAC (maximum 50% IC). IFRC can only be funded by additional AMC. 1% IC: 1% FAC (maximum 8.5% IC). IFRC can only be funded by additional AMC. Up to 8% IC and 0.1% IFRC Up to 5.2% IC and 0.1% IFRC
IFRC only 0.3%† IFRC 0.3%†† IFRC IFRC can only be funded by additional AMC. IFRC can only be funded by additional AMC. 0.1% IFRC: 0.1% AAMC (maximum 0.5% IFRC) 0.1% IFRC: 0.1% additional AMC (maximum 0.5% IFRC)

Establishment charge
*Commission figures quoted are based on a 'mid-point' of 0.35% establishment charge (maximum of 0.55%)
**Commission figures quoted are based on a 'mid-point' of 0.08% establishment charge (maximum of 0.12%)
†0.3% is the maximum IFRC with an establishment charge of 0.317%
††0.3% is the maximum IFRC with an establishment charge of 0.02%

Additional AMC
#For regular contributions, commission paid for by an additional AMC can only be chosen where the client has more than 10 years to normal retirement date, or age 65 (whichever is earlier).
##Single contribution commission paid for by an additional AMC is term related. Commission figures quoted are based on a term of more than 20 years.

You can find full details of the commission and charging options in our charges and commission guide.