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National Mutual injecting 10m into pension system

National Mutual is investing 10m in its admin systems in preparation for

stakeholder in April 2001.

The company is aiming to become a specialist pension provider rather than

competing in the mass market for stakeholder.

As part of its strategy, National Mutual is plann- ing to specialise in

the self-invested personal pens- ions, income drawdown, small

self-administered schemes and group personal pensions.

The company says it is convinced that there will be significant growth in

these areas in the coming months.

The 10m will be spent on developing the back- office systems on which it

intends to build its new range of insured pension products.

Managing director Gavin Hill says: “Everyone knows there will soon be four

or five very big life companies and a number of smaller niche players

specialising in a limited number of products and services and delivering

excellent service. National Mutual intends to be the most successful

multiple niche player.”

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