Fined insurer on fund shortlist
To trade union concern, the insurer, Colonial Mutual, is one of six firms shortlisted to run the pounds 4.4bn Teachers Superannuation Fund in a contract worth up to pounds 15m a year. The other firms on the shortlist are Abbey National Benefit Consultants, Capita Group, CSL Group, Hartshead Solway and ITnet
Colonial Mutual is currently embroiled in further controversy over a "whistle blowing" case involving an employee, who claimed he was victimised for exposing further malpractice after the fine.
The group has until Wednesday to serve its defence to a writ by Peter Smith, former manager of its Nottingham branch, alleging breach of duty of care over the alleged victimisation.
Mr Smith reported regulatory breaches in training of salesmen at Colonial's Lincoln office, nine months after the firm had been fined pounds 130,000 by Lautro,
Two Lincoln managers were sacked after an internal investigation, but Mr Smith - who left the firm in July 1994 - alleges harassment caused stress and a near mental breakdown.
A subsequent review by Lautro, now superseded by the Personal Investment Authority, came to nothing. Colonial sources say they deny the allegations and will defend Mr Smith's writ.
Notes from a small island: Is Sealand an independent 'micronation' or an illegal fortress?
You thought Ryanair's attendants had it bad? Wait 'til you hear about their pilots
World news in pictures
'Swivel-gate': David Cameron goes to war with the press over 'swivel-eyed loons' slur
Revealed: Eerie new images show forgotten French apartment that was abandoned at the outbreak of World War II and left untouched for 70 years
- 1 Heading for America? Prepare for the longest US immigration queues ever
- 2 Notes from a small island: Is Sealand an independent 'micronation' or an illegal fortress?
- 3 You thought Ryanair's attendants had it bad? Wait 'til you hear about their pilots
- 4 'Swivel-gate': David Cameron goes to war with the press over 'swivel-eyed loons' slur
- 5 It’s official: thanks to Stephen Hawking's Israel boycott, anti-Semitism is no more
BMF is the UK’s biggest and best loved outdoor fitness classes
Find out what The Independent's resident travel expert has to say about one of the most beautiful small cities in the world
Win anything from gadgets to five-star holidays on our competitions and offers page.
iJobs Money & Business
£550 - £600 per day: Orgtel: Fidessa Analyst / PM - Banking - London - Up to £...
£450 - £500 per day: Orgtel: Sourcing Manager - Banking - London - Up to £500p...
To be discussed at interview.: Queen Elizabeth's School: An experienced and ef...
£294.05 - £330.92 per day + 150 per day travel and accommodation: Orgtel: A le...