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Mercer drops Standard for Aegon on workplace panel

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Mercer has replaced Standard Life with Aegon on its workplace savings preferred provider panel.

Aegon joins Friends Life and Zurich on the panel which has around £3.6bn assets from 90 corporate and trustee clients.

Mercer says “differing priorities” with Standard were the driver for the change.

Standard had been part of the panel since the launch of Mercer Workplace Savings in February 2011.

Mercer has refused to disclose whether its workplace savings clients currently with Standard will be transferred to another provider on the panel.

A Mercer spokesman says: “Following discussions between Mercer and Standard Life earlier this year, a decision was taken that Standard Life will no longer be a Mercer Workplace Savings partner. This was due to the differing priorities of each of our businesses. 

“Mercer and Standard Life’s long standing relationship continues and we are working together to support any Mercer Workplace Savings clients affected by this change.”

Aegon workplace solutions managing director Angela-Seymour Jackson says: “MWS has already been highly successful and we look forward to playing a significant role in this partnership going forwards”

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Comments

There are 4 comments at the moment, we would love to hear your opinion too.

  1. RegulatorSaurusRex 25th July 2013 at 11:30 am

    They are all extinct.

  2. my my, workplace panel, preferred lists etc etc. For heavens sake, don’t let the regulator know!!

  3. Ouch! SL are gonna need a big plaster for that one.

  4. You don’t see any of these “panel” writing quality business these days so MWS (slightly better terms for SME’s basically) is not exactly landing the mackerel that you threw the sprat away for.

    Or the shorter version…….who cares.

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