Towry winds up legacy defined contribution (DC) plan

Financial advisory group Towry is winding up the trust-based defined contribution (DC) pension plan of Edward Jones, which it acquired last November.

It will offer the firm’s 250 staff the option of joining Towry’s group personal pension (GPP) plan, run by Zurich, or group self-invested personal pension (Sipp).

Towry has also increased contributions to its scheme after reducing them for 12 months in February 2009.

The plan now has a core contribution of 3%, as well as matching staff contributions.

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