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FRIENDS® enhances Group Personal Pensions –utlising rhymeSIGHT™ SIPPs for the investment administration

Rhyme Systems, a leading provider of asset management solutions, today announces that it is proud to be providing the investment administration platform to Friends Provident as part of its enhanced Group Personal Pensions.

Friends® has just announced two major enhancements to its award winning corporate pensions proposition. From 29 October 2007, its New Generation Group Personal Pension will have wider investment flexibility through a Self Invested Personal Pension (SIPP) option and increased retirement choices through an income withdrawal facility.

Friends® use rhymeSIGHT™, the most comprehensive system available in the market. Rhyme’s market leading portfolio management solution encompasses; back office accounting administration, asset allocation and dealing and information distribution to clients and other intermediaries. It also has a large installed base of investment management firms.

Rhyme Systems is part of 3i Infotech, a global Information Technology company and one of the top 4 Indian Software Products Companies*.

Friends has one of the most advanced administration platforms in the marketplace - the development of SIPP and income withdrawal options that are fully integrated into that system represents a significant investment in its corporate pension proposition and demonstrates a continuing commitment to the corporate pensions marketplace.

The commitment to providing a high quality service has been reinforced by the recruitment of specialist in-house investment administration teams to provide a dedicated administration service for SIPP investments. This ensures that Friends® retains full control of the service that the adviser, the employer and the member receives.