Scottish Widows gets RDR ready

Scottish Widows has announced it is retail distribution review (RDR) ready.

The provider said new business can now be applied for on an RDR charging basis for both corporate pensions and its individual pension product. Adviser charging will be available on the majority of annuity products.

Scottish Widows said it will also offer a factory gate priced investment bond. It said it had devised a number of approaches to allow advised and non-advised top-ups to existing plans across individual pensions and investment products post RDR.

Robert Kerr, head of distribution development at Scottish Widows, said: ‘We have delivered a range of RDR compliant products and changes to existing products that we believe maximises the options available to advisers when agreeing charges with consumers that meet both their needs.

'The scale of the change we have introduced goes far beyond what is required to be RDR compliant. These additional changes highlight our continued commitment to the intermediary market and the opportunities that lie ahead.’