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Pearl pension admin is outsourced

Pearl Group Staff Pension Scheme trustees have outsourced admin to First Actuarial. The 25,000-member scheme is administered by an in-house team in Peterborough and these staff will join First Actuarial.

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Magian Mutual closes to new business

Professional indemnity insurer Magian Mutual has closed to new business after haemorrhaging 30 per cent of its members in the last year. The closure follows persistent speculation that the mutual, established by PI Direct in 2003 to bring new capacity in a hard market, was struggling to cope with soft market conditions. Head of Magian […]

Who are they kidding?

Once I stopped spluttering I could only quote Victor Meldrew – I don’t believe it. Here we have one of the most maladroit life companies, evidently suffering a lack of business as a result of their abysmal service and administration, asking their poor overworked and demoralised consul-tants to ring IFAs to tell them that commission […]

TUC to defend pension cuts

The TUC says it will fight pension cuts in companies that can afford to fund deficits, have taken contribution holidays or who allow directors to continue with the same benefits.In response to the recent closure of Rentokil’s final salary scheme to future accrual for current staff, as well as proposed scheme changes at Co-op and […]

State of the markets: UK equity income

Artemis Income Fund manager Nick Shenton discusses the state of the UK equity income market with journalist Alexis Xydias. With the first three months of 2015 showing strong returns for both the Artemis Income Fund and UK markets generally, Nick Shenton discusses the fund’s top contributors – including overseas holdings Novartis and Bayer – and […]

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