Tomorrow, Swiss Re's retirement specialist, will not remove the option to convert pension policies to self invested personal pensions (SIPPs) at the end of the year.
The provider says it sent a letter to policyholders in error last week telling them it would withdraw the option from January 2008.
A statement says: “Tomorrow's internal sign-off processes with respect to policyholder communications are typically rigorous, ensuring that high-quality and accurate information is released to our customers and their advisers. On this occasion, we regret, this letter was issued in error.
“Tomorrow would like to make it clear that, at no time did it have any intention of withdrawing this option. The option will continue to be made available to policyholders who may wish to exercise it, now and in the future.
Tomorrow says it will write to customers and IFAs within the next few days to confirm the mistake.
The provider says it will take immediate steps to review its communication process.
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