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's life and pension products as well as its UK 100 Tracker unit trust and high-income unit trust.