Why taking money from the ‘wrong’ pension pot could cost you dear – new warning from Steve Webb, Royal London
Press contacts
Neil Cameron, PR Manager
neil.cameron@royallondon.com
07919171969
Lena Nunkoo, PR Manager
lena.nunkoo@royallondon.com
07919171919
Nicki Parry, PR Manager
nicki.parry@royallondon.com
07919 170 043
Press Office
Further Information
Royal London is the largest mutual life, pensions and investment company in the UK, with funds under management of £130 billion, 8.8 million policies in force and 4,046 employees. Figures quoted are as at June 2019.
Royal London is made up of the following specialist businesses:
Royal London Asset Management (RLAM)
Established in 1988, Royal London Asset Management (RLAM) is one of the UK's leading fund management companies, providing investment management solutions to both wholesale and institutional clients such as not-for-profit organisations, local authorities and the insurance sector.
RLAM manages £130 billion of assets and employs 98 investment professionals as at end March 2019. It invests in all major asset classes including UK and overseas equities, government bonds, investment grade and high yield corporate bonds, property and cash.
Royal London Intermediary Pensions
Royal London Intermediary Pensions (formerly Scottish Life) is a pension provider with over 600,000 customers. Scottish Life was founded in 1881, and in 2001 it became part of Royal London. In 2014 Scottish Life won the Money Marketing Financial Services Awards Best Pension Provider for the fourth year in a row. At the same ceremony Scottish Life was also voted Company of the Year.
Royal London Intermediary Protection
Royal London Intermediary Protection (formerly Bright Grey and Scottish Provident) is a protection provider with over 1,085,000 customers. It offers a range of products including life cover, critical illness, income protection and whole-of-life through financial advisers. Bright Grey was formed in 2003 and rebranded to Royal London in 2015. Royal London will continue to deliver on Bright Grey’s ethos, based on simplicity, flexibility, speed, transparency and honesty. Scottish Provident was established in 1837 and rebranded to Royal London in early 2016. The brand was a pioneer in the protection industry offering a range of market-leading, award-winning products including life cover, critical illness cover, income protection and unemployment benefit. Combining the two brands will give customers access to the best products from both brands and will continue to deliver award winning products and service.
Royal London Consumer Division
Our newest division was set up in 2014 and sells a range of products directly to consumers. As a mutual, our focus is on improving outcomes for customers by offering fairer products that offer better value for money directly through digital, telephone and mail channels.
