Stakeholder Pensions

House of Lords written question – answered on 4th February 2004.

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Photo of Lord Taylor of Warwick Lord Taylor of Warwick Conservative

asked Her Majesty's Government:

When the Treasury will announce its decision on whether to relax the 1 per cent management charge levy on stakeholder pensions.

Photo of Baroness Hollis of Heigham Baroness Hollis of Heigham Parliamentary Under-Secretary, Department for Work and Pensions, Parliamentary Under-Secretary (Department for Work and Pensions)

The Financial Services Authority is currently consumer testing the simplified sales process for the new stakeholder product suite. The Government will decide on the level of the charge cap for the pension within the product suite when the results of the research are known, later this year.

The form of the selling regime will be one of the factors taken into account by the Government in the decision on the charge cap.

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