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Marks & Spencer to accept transfer business

Marks & Spencer Financial Services is set to accept pension transfer business following interest from investors. Eligible products for transfer are personal pension plans, free-standing AVCs and retirement entry savings plans. There are no initial charges but investors will not be able to contract out of Serps. M&SFS is considering launching an advertising campaign in the new year to promote the transfer option.

Director of new business Dave Gooding has left the company after two-and-a-half years. He was instrumental in launching M&S&#39s life and pension products as well as its UK 100 Tracker unit trust and high-income unit trust.

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