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September 10, 2004

Norwich Union / Standard Life: pay as you exit

News of the imposition of late exit penalties on holders of with-profits pensions who retain policies beyond their retirement date comes at a time when the public's trust in the pensions system is at an all time low. While the insurers defended their actions, they must realize that such actions will be detrimental to their long-term future as the reputation of the industry is further tarnished.

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Posted by Tom Troceen