Intermediaries who have set up front-end loaded GPPs must be wary of adding new members as they may ...
Intermediaries who have set up front-end loaded GPPs must be wary of adding new members as they may be disadvantaged by the level of front-end charges in a subsequent transfer to a stakeholder pension. Millfield Partnership has discovered that several of its clients in a GPP would find their savings reduced to zero on maturity if they had their contracts paid up now because front-end and ongoing charges are so high. Mark Bingham, consultant with the Millfield Group in Slough, said: "The bulk of GPP is very good. Generally, these have lower charges than a personal pension and are more frie...
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