Fidelity to expand pensions business

Fidelity Worldwide Investment is to significantly expand its pensions business and has appointed Richard Parking as head of retirement.

It said it planned to deliver a new retirement service to the UK market, which is in "urgent need of innovation". Fidelity said the pensions market represented a significant opportunity for asset managers and platforms. Earlier this week the business announced a £250m investment into its platform. Head of business development Ed Dymott said: "With a significant number of individuals now approaching retirement, we are committed to delivering a service which provides both greater choice and improved outcomes for this critical point in their lifetime. "Unfortunately far too many in th...