£70m assets needed to pay £100k compliance costs - L&G

May 2014
Corporate Adviser (Online Edition);5/ 1/2014, p1
The article reports on the need for insurer Legal & General PLC (L&G) to gain £70 million of pension assets in payment for its anticipated £100,000 compliance cost in 2014. L&G concerns on the absence of a competitive market among the accountants to provide compliance services if there are only a minimum of 10 master trusts looking for compliance. It agrees to comply with the framework, but will monitor employee engagement.


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