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Scottish Friendly takes over bundled group pension business from Mobius Life

Scottish Friendly, one of the UK’s biggest financial mutuals, has today announced that it is has taken over bundled group pension business from Mobius Life, an independently-owned provider of institutional services to corporate pension schemes in the UK.

The proposed transfer of the business was announced by Scottish Friendly on 5 June. The transfer sees 13,300 members and assets of over £350 million move to Scottish Friendly and was approved on behalf of Scottish Friendly members at a Special General Meeting and received High Court approval on 7 November.

Jim Galbraith, Scottish Friendly’s chief executive said:

We are delighted to welcome Mobius Life bundled group pension policyholders to Scottish Friendly. The addition of Mobius Life bundled group pension business to Scottish Friendly is a tangible outcome of our strategy to diversify and grow the business for the benefit of our policyholders.

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