Canada Life UK is to sell 155,000 longstanding policies worth £2.7bn from its closed book of business to Scottish Friendly as it focuses on the annuity market.
The policies being offloaded have largely been closed to new business since 2003 and are made up of life and pensions savings policies, along with some protection policies all written in the UK, the firm...
Royal assent soon
Only one in ten opt for an annuity
The Department for Work and Pensions (DWP) will ban the charging of flat fees on auto-enrolment (AE) pots valued at or below £100 and launch work on how to standardise cost and charges reporting.
Third highest monthly figure since 1993
'Cannot normalise this level of loss'
There is no shortage of IFA firms looking to sell up, writes Daniel Baade. However, the big question is how to finance the acquisition of IFA or wealth management firms...
Supported over Christmas
Plus online scams