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Scottish Life rebrands personal pension product

Scottish Life, the pensions arm of the Royal London Group, has rebranded its 'Individual' pension product as 'Pension Portfolio.'

The rebranding comes in preparation for the launch of additional optional self investment functionality in December 2006.

The functionality is expected to include a fund supermarket with access to more than 1,000 funds from over 50 managers; an execution only share dealing service; a panel of discretionary fund managers; and the ability to hold other permitted assets such as commercial property.

The pensions group’s ‘Managed Strategies’ concept will continue to be at the core of the plan. Managed Strategies was designed to maximize the prospective real returns over a specific time and subject to a specified level of risk.

Existing customers of the current pension plan will transferred automatically to the rebranded product, with the opportunity to access the additional functionality when necessary.

Tailored investment management has been at the forefront of our pension offering since the launch of our Managed Strategies proposition two years ago, said Barry Shields, head of individual business at Scottish Life. 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.