Tomorrow's Pensions Warning
Published / Last Updated on 19/11/2007
Closed book
Tomorrow’s “closed to new business” pension client portfolio, or book, is currently administered by Swiss Re, who have advised that they will be withdrawing the self-investment option with effect from 1 January 2008.
The administrative arm of Swiss Re, Admin Re has contacted to 15,000 customers and 4,000 Independent Financial Advisers to advise them of the changes and that they will have a three-month window before they can transfer to another provider without penalty.
Our view
We recommend that pension plan holders transfer out as soon as possible.
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