F&C Asset Management has told investors it expects to take a £2.3bn hit to its assets under management this year when Friends Life withdraws money from its annuities business.
F&C said in an update this morning its former backer has given it 12 months notice of the withdrawal of the assets. In the statement, F&C said:"On 9 November 2011 Friends Life announced its intention...
This week's top stories included the GMP Equalisation Working Group publishing a call to action to help schemes begin the process.
The extension of auto-enrolment (AE) to more workers is supported by around three-quarters of businesses, according to research by Scottish Widows and the Confederation of Business Industry (CBI).
Hargreaves Lansdown and Liberty SIPP have again been named as the slowest two providers to move pensions through Origo's Transfer Service.
The Pensions Regulator (TPR) increased its use of frontline powers by 32% over the last year, it confirmed in its annual report and accounts.