Scottish Widows has been appointed as stakeholder provider to the UK's Retail and Motor Industry Federation.
The firm beat off competition from Legal & General, Prudential, Standard Life and Norwich Union to provide what will be known as the Motor Industry Stakeholder Scheme.
The plan will be made available to 10,500 companies within the federation - representing the UK motor retail and manufacturing sectors - with more than one million employees.
Scottish Widows will provide access to 14 Scottish Widows funds and a number of external balanced managed funds from Newton Fund Managers, Merrill Lynch Investment Managers and Schroder Investment Management.
RIMF was advised by Bacon & Woodrow.
By Madhu Kalia
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