Transact launching a section 32 buyout bond

Transact, the fund supermarket provider, has launched a section 32 buyout bond with a guaranteed minimum pension (GMP) allocation. The buyout bond wrapper offers intermediaries commission rates of up to 3.5% on new business, up to 0.8% if that money is subsequently switched from one investment to another and up to 0.5% renewal per year. Transact charges 0.5% on new business and 0.2% on subsequent switches. Additionally, there is a maximum annual charge of 0.6% on the section 32 bond, with discounted rates for funds over £50,000. These charges are the same as for all Transact's wrappers...