Norwich Union expands pension offerings

Tue, 25 Nov 2008

A number of funds have been added to Norwich Union's pensions .

In total, there are 23 new funds, with changes also made to the stakeholder fund range.

Iain Oliver, head of pensions at the financial services provider, said the moves "demonstrate our ongoing commitment to deliver the most up-to-date and in-demand investment options to our products".

The same 55 funds are now being used by each stakeholder product.

In related news, 83 per cent of people over 50 are saving for their post-working years, according to new research by Alliance and Leicester .

The Savings Outlook Report also discovered that 48 per cent of people think they need to save for longer as longevity improves, with the same percentage worried that they may enjoy their retirement less due to the financial climate.

Hetal Parmar, manager for savings at Alliance and Leicester, noted: "The increasing demands on a pension pot mean that it's crucial to back it up with sufficient savings."
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