JFM acquires Legal & General (UTM) Stakeholder Pension Scheme business
Pension fund manager Jessop Fund Managers (JFM) has continued its growth with the acquisition of the Legal & General (UTM) Stakeholder Pension Scheme.
JFM specialises in the administration and management of unit trust pension plans and offers a choice of retirement options that allows retirement income to be taken in a way that suits personal needs.
The Stakeholder Pension Scheme complements the Personal Pension and Drawdown products already offered by JFM.
After the new government pension freedoms, which came into effect on 6th April 2015, those aged 55 or over have greater freedom and increased options to access their pension pots. L&G is not a personal pension scheme specialist and could not offer the full flexibility that the new rules open up to scheme holders.
The funds that scheme holders are invested into will not be changed after the transfer to the JFM Stakeholder Pension Scheme.
JFM managing director David Hughes commented:
“With the new pension freedoms introduced in April, customers are on the lookout for providers who can offer the flexibility that they need.”
“We were chosen by L&G because of our expertise in the management of unit trust pension plans and we welcome our new scheme members to JFM.”