UK - The £920m BOC Group pension scheme has suspended additional voluntary contributions through Friends Provident due to concerns over administration problems.
BOC is allowing existing members to continue contributions but has stopped others signing up for the service.
BOC Group pension services manager Chris Knowles said a trustee review of the Friends Provident AVC was under way but would not confirm other details because they were “confidential to trustees”.
However a formal public message to members states: “There have been problems with FP administration and the costs associated and this has led to the review.”
A Friends Provident spokeswoman said: “A trustee review is common practice and based on that the relationship between BOC and Friends Provident is confidential so we cannot really discuss what is going on there.”
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