Hibernian Life & Pensions has become the latest institution to introduce a new savings product in response to the Government's savings scheme announced in the Finance Bill.
Hibernian says its Spectrum Special Saver will offer a full choice of investment fund options with no entry charges. The policy fee is £1.18 and there is a management charge of 2%.
The minimum monthly investment is £10 a month, the maximum £200 a month. Marketing and product development director Ian Veitch challenged other life companies to follow suit by bringing in products with no entry charges.
