News in brief
Published: 15 September, 2008
An annuity that offers an income based on five different health risks has been launched on a pilot basis by Legal & General.
The insurer claims an individual could benefit from an extra 12% income with its Annuity Plus product compared with a standard annuity.
Applicants in the pilot study will be asked if they smoke, have high blood pressure, a high cholesterol level, their height and weight, and whether they have diet-controlled diabetes.
This non mandatory information will, in addition to postcode, be used to determine the additional annuity income that may be provided.
The £3.6bn Lancashire County Council fund is seeking a manager for £350m of equities.
The move follows the end of a contract with Schroders.
Principal accountant Mark Bennett said the council was looking for a manager who could move the fund into a more passive arena.
A service that frees insolvency practitioners from acting as trustees of an insolvent company’s DC scheme has gained 30 business appointments.
Alexander Forbes’ TrustEase service is designed to enable an insolvency to be concluded without the delays and complications common to winding up a pension scheme.
