Self-invested personal pension provider iPensions Group has acquired the business assets of Edinburgh-based Forthplus Pensions.
The deal - involves assets under management of around £500m - buys the pension provider out of administration and enables more than 2,500 customers, who include UK expats, to transfer their retirement savings to safety.
The Manchester-based group was advised by Eversheds Sutherland. It will retain the Forthplus Pensions operations in Edinburgh, together with its administration staff.
Forthplus appointed administrators Leonard Curtis Business Solutions on 19 October, having previously closed to new business from 1 September.
Craig Cheyne, group managing director at iPensions, said: “We empathise with Forthplus Pensions’ members and recognise that the past months must have been unsettling for them and staff.
“We look forward to supporting Forthplus Pensions members by continuing to provide our personable service and we welcome the expert administration staff at the company.”
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