Standard Life offers recurrent single payments to Bond

Standard Life is introducing the ability to pay recurrent single payments to its International Bond. The new flexibility has been driven by clear demand and will provide a tax efficient alternative for people looking for a way to save for the longer term, beyond their pensions.

Ian Searle, Regional Manager, Standard Life commented: "The ability to pay recurrent single payments into our International Bond is something advisers and existing customers have been asking for. The single payment investments will be made into a single bond and will give access to our full open architecture platform. This makes managing portfolios easier than ever before.

"This development should be of significant interest to those individuals impacted by the new pension contribution and Lifetime Allowance limits that are about to come into force. It is a tax efficient alternative that we are pleased to be able to introduce in time to support advisers who are speaking to their clients as part of their tax year end planning.

"The recurrent single payment option will also be useful when it comes to planning for inheritance tax, by making it easy for those who set up a Gift Plan to regularly top up the initial lump sum investment."

People can make recurrent single payments into the International Bond on a monthly, quarterly, half yearly or yearly basis. Investments can be started with;

A single payment of £20,000, and then minimum contributions of either £500 a month, £1,500 a quarter, £3,000 a half year or £5,000 a year or,

No single payment start up and then minimum contributions of either £1,000 a month, £3,000 a quarter, £6,000 a half year or £10,000 a year.

Quotations and supporting materials are available now and applications can be accepted in readiness for processing from 6 April 2011.