Annual Management Charge (AMC)
- Standard AMC of 1% for most of our internally managed funds
- Externally managed funds have a higher AMC
Commission structure
- The Scottish Widows Section 32 commission structure is dependent on the term of the plan to age 65
- Please refer to the Adviser Commission Guide
- 5% initial commission
- 0.45% fund-based renewal commission*
- Or a mixture of both
*Additional fund-based renewal commission can also be taken (up to a maximum of 0.5%) where the AMC would enable this.
- We pay a maximum of £20,000 initial commission on the S32
- Any generated excess commission will be converted to provide fund-based commission or a reduced AMC. These depend on your client's individual circumstances
Charges
- Charge for managing and investing in the plan, this is taken on a regular basis
- Standard AMC of 1% on most Scottish Widows internal funds
- No exit charges for transfer*
- No charges* for early / late retirement
- Power to change the charges made, for exampe if costs turn out to be much higher than expected
- External fund mangers have the power to change any charges on their funds
*Market value reductions may apply if invested in the Unitised With-Profits Fund
Important notice
Please note that charges, terms and limits may change. We may change the selection of funds that we make available. There may be restrictions on the amount that can be invested in certain funds. Please contact us for details of any restrictions that apply. Tax treatment depends on the individual circumstances of your client and may be subject to change in the future.