Today’s news seems to indicate that the pension provider/ life assurance provider Abbey Life has been sold for close to £1b by its German Owner Deutsche Bank.
Interestingly Deutsche Bank is having some problems, mainly due to the heavy fines it’s received in recent years. Abbey Life are a pretty poor provider of pension plans, with charges that are often twice those charged by competitors. I doubt the new owner, will be writing to let the policyholders know that they could be better of by moving to another lower cost provider. Just to let all of you know, they can and should.
Abbey Life are another of those providers that really should have been given a closure order by at least one of the regulators; not much chance of that happening.
Get in touch if you want the heads up on how to do that. Moving your Abbey Life pension is really simple, but if you want to save at least twenty percent of your pension over the next ten years I would suggest you do it sooner rather than later.