Pensions discounted for IAP members


Pensions discounted for IAP members

Members of the Institution of Analysts and Programmers (IAP) are being offered discounted charges on stakeholder pensions, in a deal negotiated by their representative body.

Equitable Life, an established provider of personal pension schemes, has agreed to lower its annual fund management charge from 0.9 per cent to 0.75 per cent for IAP members only.

According to the company, this will increase the value of an investor's final pension sum by an estimated £15,000 or 3 per cent over 30 years, depending on the amount of money contributed each month, and on the growth rate of the fund.

"We have spent some time looking for a really good pensions deal for IAP members and I believe we have found it with Equitable Life," comments IAP director general, Mike Ryan. "The savings in pension costs over the years could far outweigh the modest cost of IAP membership."

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