Norwich Union is launching a summer campaign targeted at a select contingent of its pension clients informing them of an intention to automatically contract them back into the state second pension (S2P).
The life insurer says a change in the economic environment has "eroded" any potential financial benefits for most people wanting to contract out of the S2P, and follows the firms original mailing effort six months ago, urging policyholders to contract back into the S2P. Norwich has promised to contract back in all clients who bought their policy direct, through a Norwich Union adviser or those policies where the policyholder has no adviser registered to their policy - a figure that amounts to around 40,000 people. The firm says it was disappointed with a recent mailing campaign designe...
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