DIRECT PENSIONS newcomer PensionStore forecast sales of 5,000 policies this year - but only thirty have been sold to date, resulting in wholesale redundancies at its Peterborough call centre. Over half the staff were told they no longer had a job and just sixteen ‘financial advisors’ are left to man the listing ship. Parent company US-owned Liberty Mutual Insurance launched the UK operation in January this year on a cut-price ticket backed by a £5m ad campaign [Debrief, 5-6].
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