Pearl and Prudential's pensions pact

Pearl's personal pension clients will now be able to access a Prudential annuity when their plan mat...

Pearl's personal pension clients will now be able to access a Prudential annuity when their plan matures. The agreement between the two groups takes effect from September 2004 and will run for five years. Customers will also retain the right to select the open market option, should they wish to follow this route. Personal pension clients will receive the same annuity rates the Prudential offers through advisers. Pearl is now closed to new business and about 5,000 personal pension policies per year will be maturing. The agreement covers all pensions written from 1 July 1988 under personal pe...