Royal London has been selected by JJB Sports as the sports retailer's new stakeholder pension provider.
JJB Sports has 11,100 employees throughout the UK and Royal London will offer them stakeholder pensions through both its call centre and direct sales force. When selecting their pension, employees will have the option of either being taken through a decision tree or receiving advice.
David Greenwood, financial director at JJB Sports said: We chose Royal London as they have a strong product and professional approach to stakeholder pension provision. JJB believes Royal London is an experienced and reliable product provider capable of delivering a quality service.
Currently, Royal London is in the process of completing its acquisition of Scottish Life. At an egm held in Edinburgh, 98.3% of the votes cast were in favour of Scottish Life's demutualisation and the transfer of business to Royal London Mutual Insurance Society.
After the transfer of the business is completed Scottish Life will become the independent financial adviser (IFA) division of Royal London. The combined group will have an income of approximately £1.9bn and nearly £30bn in funds under management.
By Geoffrey Ho
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