UK - IFA Destini has acquired Lifeboat Financial Group's assets in a last-minute rescue bid for the beleaguered firm.
Destini will take on Lifeboat’s staff and infrastructure, including compliance, management, administration, marketing and sales.
The deal will secure jobs for Lifeboat staff and Destini has agreed to pay commissions owing. The acquisition will boost Destini’s turnover by £10m to £30m a year.
A buyout tool which provides schemes with up-to-date pricing and comparisons between insurers has been launched by JLT Employee Benefits.
The DB white paper sets out plans to review the funding regime, with 'prudent' and 'appropriate' possibly redefined. But James Phillips asks if this could this signal a return to an MFR-like approach?
The trustees of GKN's pension schemes have agreed a package of mitigation measures that would improve funding to a "more prudent level" if Melrose's offer is accepted by shareholders next week.
While the new powers are welcome, most respondents doubt it will make a difference to the outcomes for members, Pensions Buzz respondents say.