Scottish Life launches pension fund release plan

The provider says Income Release, which it offers within its Pension Portfolio, responds to demand from the baby boomer generation for free access to savings and takes advantage of A-Day legislation changes on pension flexibility. The plan allows customers to take a tax-free lump sum after age 50, or 55 from April 2010, while still building up their pension fund. Keith MacPherson, head of individual business at Scottish Life, says: “Income Release provides an integrated unsecured pension option which allows the adviser and client to consider fully or partially crystallising the pension ...