Friends Provident saw new group pensions business fall by 44% in the first three months of the year, an interim management statement published today reveals.
The life and pensions firm said new group pensions business fell from £127m on an APE (annualised premium equivalent) basis in the first quarter of 2008 to £70m in the first three months of this year....
The top stories this week were the High Court's decision to block the £12bn annuity transfer from Prudential to Rothesay Life, and a separate court ruling that 'raises the bar' for pension rectification exercises.
Guaranteed minimum pension (GMP) equalisation has soared to the top of pension schemes' to-do lists, with 58% stating it is a priority project, research from Equiniti has revealed.
Professional Pensions is holding its defined contribution (DC) conference on 4 September.