UK - Abbey National is outsourcing its pension review services to employee benefits group Jardine Lloyd Thompson.
Under the five-year deal, JLT will maintain all files relating to free-standing additional voluntary contributions reviews.
JLT director Duncan Howorth said: “Our future services will ensure that Abbey National fulfils its commitments and obligations to all investors should they have any queries relating to policies in the future.”
Abbey National head of pension review Janet Anderson said: “We decided the outsourcing of our pension review run-off was the most practical method of handling any enquiries that may arise.”
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers