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...
The Pensions and Lifetime Savings Association (PLSA) has revamped the standards for its Pension Quality Mark (PQM) in a bid to raise the quality of single-employer defined contribution schemes.
People approaching retirement are "systematically misjudging" their longevity and undervaluing annuities, the Institute for Fiscal Studies (IFS) says.
Professional Pensions is holding a breakfast briefing on engaging defined contribution (DC) members on 7 February.
Panellists at a PP webinar discuss October's High Court judgment on GMP equalisation, how schemes have responded, what their strategies should be, and how the industry can approach it.