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Hogg Robinson wins first outsourcing of annuity payments

Hogg Robinson subsidiary Paymaster has won a ten year contract from CGU to provide an annuity payments service to some 100,000 pensioners.

This is the first time an insurance company has outsourced the annuity payments function.

Paymaster manager director Jim Kelly says: &#34Our new annuity payment service is a natural extension to our established pensions payroll activity.&#34

Hogg Robinson chief executive David Radcliffe says: &#34We are very pleased to secure this relationship with CGU, which demonstrates the benefits of our acquisition of the remaining 70 per cent of Paymaster in August and our strategic decision to invest in a dedicated annuity payments administration service.&#34


ICS opens way to compensate clients of four more firms

The Investors Compensation Scheme is opening the compensation procedure for customers of four former investment firms.The four firms are The Fellowship Investment Company ltd, City and West End Pension Consultants, Watkins Insurance and Campbell Financial Services Plc.The ICS is declaring the firms in default because it is satisfied that they themselves are likely to be […]

IFAs opposed to genetic testing for life insurance

IFAs are firmly opposed to life offices using genetic test results when considering life policy applications.They have spoken out following the Government&#39s favourable response to the proposals made in the Human Genetics Advisory Commission&#39s report on genetic testing last week. Medimoneycare consultant Iain Flemming says: &#34Applicants are already subjected to fairly extensive medical examinations which […]


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