Norwich Union offers UK pensions solution

Tue, 18 Oct 2005

A more flexible approach to retirement pension planning is being made possible by Norwich Union.

The restructuring will allow for more customized retirement planning, as all pensions policies will be written under a single scheme.

This approach will enable customers to tailor their retirement pension plans throughout every stage of their life, depending on changing individual circumstances.

The Retirement Solution range includes straightforward products for people who only just started saving money for their retirement pension, through to more sophisticated options for retirement pensions.

Customers will be able to move 'seamlessly' between products whilst retaining tax-free cash protection from previous occupational schemes.

"We believe that our radical new approach to retirement planning will make it easier for everyone involved," commented Mike Kirsch, Norwich Union's commercial director.

He says this pensions solution offers people the opportunity to plan comprehensively for retirement throughout every life stage.

This pensions restructuring comes six months before A-Day, when UK pensions regulations will be changed.

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