UK - The pensions transfer market is growing by 30% a year as a result of companies moving from defined benefit to money purchase provision, AMP NPI says.
The financial services company has launched “flexible” contracted-in money purchase and group AVC schemes specifically to meet this demand.
AMP NPI sales director David Tildesley said: “We are determined that AMP NPI will become the leading player in the pensions transfer market.
“We have a huge amount of expertise in this area and we have the administration capacity to handle bulk buy-outs and big volumes of business.”
Proposed changes to The Pensions Regulator's (TPR) notifiable events framework so it can be more proactive when corporates make changes will create a very challenging workload, it has been said.
Aviva has created a new pension skill for Amazon Alexa that allows customers to find out how much they have saved towards their retirement.
PP has compiled a list of what to watch out for over the coming months.
The proposed cold-calling ban may be ineffective if a collaborative regulatory approach between the UK and the European Union (EU) is not maintained post-Brexit, the Pensions Management Institute (PMI) has warned.