From today, though, no Jersey resident wanting to apply for a private pension through Norwich Union will be able to do so.
As reported previously, Norwich Union has decided to withdraw from the pensions market in Jersey, Guernsey and the Isle of Man because the difference in tax arrangements require specific procedures which the company says are not cost-effective in relation to the small population.
Norwich Union says that existing pension arrangements, including group pension plans, will continue as before and customers will not be affected by the changes.
