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....
This week's top stories include ITS' management buyout from Mercer, and The Pensions Regulator launching a probe into single-employer defined contribution schemes' default funds.
People retiring in the UK will on average outlive their pension savings by 10 years, according to research by the World Economic Forum (WEF).
Steps to improve auto-enrolment are uncontroversial and obvious, but the government is dawdling on introducing the necessary changes, argues Jack Jones.
Professional trustees will be expected to apply for accreditation as part of a framework intended to be launched on 1 July by the Professional Trustee Standards Working Group (PTSWG).