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November 17, 2004

Norwich Union tells customers to return to state pension

The move follows the Association of British Insurers' change of position to suggest that pension holders should return to the state offering; however Norwich Unions' advice will be marked by a significantly greater degree of gravity.

Norwich Union will "strongly recommend" that its customers return to the state second pension, formerly known as the state earnings related pension scheme, because of the improvements the government has made to the scheme and because of the disincentives the government has added to holding a private policy .

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Posted by Tom Troceen