The new milestone demonstrates not only the impact of the new business being won by the Friends Provident corporate pensions team, but also the desire of our existing clients to retain and grow the business they have with Friends Provident.
The new schemes, including the recent Neuberger Berman and Babcock International wins, also illustrate the growing trend amongst employers to consolidate their various pension arrangements into one comprehensive offering against the current economic environment.
James Ward, director UK Corporate, Friends Provident commented:
"It is very encouraging to see that despite tough economic conditions, growing numbers of employers are still committed to providing pensions for their staff. It's no secret that the recent downturn has led to the demise of final salary pensions, but the DC alternative is certainly proving appealing among large and small employers alike.
"We are especially optimistic about the appetite amongst UK employers to think beyond pensions and explore workplace savings such as corporate ISAs and share-save schemes. Through our new corporate platform we will be well positioned to cater for this growing demand."
Friends Provident recently launched a new corporate investment platform, the first delivery of its 'next generation solutions' programme for corporate clients. This new tool - aimed at employee benefit consultants and trustees in the unbundled pensions market - will provide the foundations for the Friends Provident Corporate Platform to be launched later this year.
