Prudential has secured an additional 13% of sales in its retirement business, but corporate pension sales fell marginally from £286m to £275m.
The provider posted a £382m increase in individual pension sales, while income drawdown new business grew 16% to £1.2bn. Earlier this year, Professional Pensions revealed Prudential was in consultation...
A number of pension schemes have been prompted to lock in gains with a move into bonds after the estimated deficit across FTSE 100 DB pension schemes improved by £36bn, over the 12 months ending 30 June last year, JLT Employment Benefits found.
HM Treasury has agreed in principle to give NEST a £329m contingent liability guarantee in the event of the master trust's wind up or closure.
AMP Capital has set up a dedicated team to help institutional investors, including pension funds, invest in infrastructure through direct equity allocations.