Pearl signs Pru annuity access deal

Effective from September 2004, the deal will run for five years to provide around 5,000 Pearl personal pension policyholders with access to a Prudential annuity provider each year although customers will obviously have the right to take an Open Market Option. At present, Pearl customers have no access to an annuity provided by its own pension firm as Pearl – now part of HHG plc’s Life Services and formerly a division of AMP – closed its doors to new business in August 2002. IFAonline