Pension reform inspires Friends Life
FRIENDS Life is to launch a new pensions platform next year to coincide with the end of obligatory annuities.
Friends Life offers various financial services, including life insurance, investments and pensions
Following the shake-up in pensions announced at the last Budget, the company plans to offer varying options for retirement, with more flexible income drawdown products alongside ISAs and general investment schemes.
The company saw annuity sales fall by 12 per cent in the third quarter of the year, against a market down 32 per cent.
Corporate pension sales rose 14 per cent to £465million.