Clients will now pay a maximum of £300 per annum when they invest in Vitality funds.

For clients with more than one plan with Vitality, it will use the combined value of their plans to work out the client’s product charge.

The offer is open to new investment plans taken out between 10 January and 30 April.

Justin Taurog, managing director, VitalityInvest, said: “This coming year brings with it a lot of uncertainty for investors, from potential interest rate rises and inflationary pressures to dealing with the outcome of the pandemic. Despite this, one thing that advisers and clients can control is choosing a plan which provides them with the most cost-efficient product charges.

“Our new offer will help advisers provide even more value to clients by ensuring that they will never pay more than £300 in product charges each year when they invest in Vitality funds. This gives their investments more room to grow while helping them to reach their savings goal faster and enables advisers to maximise the value of their assets under advice.”

Once invested, clients can also now reduce their product charge to 0.13%, 0.10% or 0% by engaging with the Vitality Programme.

By earning Vitality points with the programme and taking steps to be healthier members can achieve higher status to receive the further discounts.