Life insurance specialist Aegon Scottish Equitable is offering more flexibility to advisers and employers with the addition of four new charge shapes to its group personal pension product, to suit different adviser business models.

The alternative charging options provide advisers and their clients with greater flexibility in determining the level of advice required and how it is paid for.

The insurer will offer a no commission option for advisers working on a fee basis and three new options designed to allow advisers to cater for the needs of clients who want additional services or greater levels of advice and support. These will operate alongside the existing mono-charged shape.

As a result, advisers will have more scope to provide support and advice for individual scheme members when first joining, to promote scheme take-up and ongoing services for both employer and employees, if requested by the employer.

Furthermore, to encourage more saving, an active member discount will be offered to employees who make regular contributions. An annual management charge discount of between 0.25% and 0.75% will be given, depending on the charge shape chosen. Under the terms, employees can still benefit from the discount after leaving the employer scheme if contributions continue to be paid.

Alison Nelson, head of group marketing at Aegon Scottish Equitable, said: Our new suite of flexible options supports the need for individual advice within a group setting, which in turn supports the government’s agenda to use the workplace to boost retirement saving.