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Maintenance Charges from Feb 2009
The monthly maintenance charge will be increased with effective from February 2009.
For the past two years we have been able to keep this charge at its current level. However, following the recent review we have found it necessary to adjust our monthly maintenance charge in 2009.
The increase will apply to the following Royal Skandia products:
• Managed Savings Account
• Managed Pension Account
• Managed Capital Account (regular contributions only)
• Managed Account Plus
• International Mortgage Account
The increase will take effect from February 2009 and we will shortly be writing to all affected clients to advise them of this change. Details of the increase are set in the table below.
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Current monthly charge |
New monthly charge |
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Products open to new business |
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Managed Savings Account Managed Pension Account |
£5.50 (€8.30, US$8.30 or HK$66.60) a month |
£5.75 (€8.60, US$8.60 or HK$69) a month |
|
Managed Capital Account* (regular contributions only) |
£5 (€7.50, US$7.50 or HK$60) a month |
£5.25 (€7.85, US$7.85 or HK$63) a month |
|
Products closed to new business |
||
|
Managed Savings Account |
£4.25 (€6.35, US$6.35 or HK$51) a month |
£4.45 (€6.65, US$6.65 or HK$53) a month |
|
Managed Account Plus |
£4.25 (€6.35, US$6.35 or HK$51) a month |
£4.45 (€6.65, US$6.65 or HK$53) a month |
*The maintenance charge for the Managed Capital Account only applies if the higher of the premium paid or fund value in that month is below £10,000 (€15,000, US$15,000 or HK$120,000).
When the Fixed Account Loan is selected for the Managed Savings Account, Managed Pension Account and Managed Capital Account, the extra monthly fee that applies will also increase to the level of the revised maintenance charge.
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William Russell
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