UK - Royal London Asset Management (RLAM) is set to offer a new defined contribution (DC) pensions product.
According to RLAM’s head of sales and marketing, Christopher Edge, the company is still developing the product, which it plans to offer at the beginning of 2002.
Edge added that RLAM recognised the changes in the UK pensions industry and was under pressure to move from traditional defined contribution plans to a more modernised DC arrangement.
“We are designing a product that we feel will be an answer to where the industry is moving,” he said.
“A great deal of emphasis will be placed on communication where we plan to develop a call centre to support the DC product.”
*RLAM’s subsidiary Scottish Life currently offers DC third party administration services via its DC Solutions firm. Companies using this service include Phillips & Drew and Invesco.
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