Scottish Widows launch enhancements to Retirement Account

Scottish Widows has launched the Fixed Term Cash Deposit (FTCD), as an enhancement to its award-winning Retirement Account.  With a great fixed rate of 2.6% AER, the new asset class provides an alternative to cash funds for account holders who are risk-averse, or who want to avoid short term market volatility. The first tranche will be open from 16 November until 13 December 2009.

With outstanding features and a great rate of interest payable at the Investment End Date, the Fixed Term Cash Deposit is an attractive investment opportunity.

Richard Jones, Market Director, Retirement Income & Planning at Scottish Widows, commented, "We are delighted to offer customers additional investment and flexibility through our Fixed Term Cash Deposit. We've listened to what IFAs have told us and from 16 November we're making some significant improvements to the award-winning Retirement Account.

"With outstanding features and a highly competitive one year rate of return, the Fixed Term Cash Deposit is an attractive investment opportunity compared to current underlying interest rates. Many of our competitors, such as Standard Life, do not allow partial withdrawals - our Fixed Term Cash Deposit does, giving people the freedom that they will want."