The Thomson Travel Pension Scheme in the UK has appointed Wesleyan Assurance Society as additional voluntary contributions (AVC) provider to run alongside Standard Life.
The previous stakeholder provider for the scheme was Equitable Life, which closed its doors to new business in December last year.
Wesleyan already provides an alternative AVC scheme to Britannia Airways, part of the Thomson Travel Group.
A Thomson spokesperson commented: “Wesleyan’s financial strength and very good with-profits past performance were key factors in our decision.”
Craig Errington, Wesleyan sales director said that the company will have more freedom to invest for the longer term using high performing assets which have produced better investment returns resulting in the payment of higher bonuses to its customers.
By Janet Du Chenne
A former energy and climate change secretary has said that by continuing to invest in fossil fuel firms, pension schemes are just making the climate change crisis even worse.
The Royal Mail Defined Benefit Cash Balance Scheme (DBCBS) has ended its first full-year with a £9m actuarial surplus, the company says.
The Salvus Master Trust has launched a mobile app for members after employers revealed they wanted their members to have more access to online tools.
A rise in UK inflation back above the Bank of England's 2% target rate will not change the thinking of its Monetary Policy Committee with regards to interest rates, experts have said.