G4S completes CIMP conversion

Over the last 18 months, 2,251 active members of the CIMP have been offered membership of a new GPP. This was followed by an exercise to facilitate the option of transferring benefits from the CIMP to the GPP. Over 98pc of the active CIMP members have now taken up the offer to transfer, with 95pc choosing the default investment option. Punter Southall worked with Friends Provident as the selected GPP provider and negotiated a scheme with a 0.5pc AMC. Although Friends Provident was not willing to offer a lower AMC, a commission offset deal was established as part of the remuneration s...