Tough stakeholder outlook

By Mohamed Ali Bernat The introduction of stakeholder pension rules next April will quickly expose providers unable to sustain their business in a 1% environment, according to Graeme Laws, deputy managing director of National Mutual. Speaking at the Sofa conference, Laws said evidence from Australia's introduction of a stakeholder-like regime had resulted in just a handful of providers remaining in the market. National Mutual is one of the few companies to openly state it is not entering the stakeholder race and Laws said this was because the business model did not make sense for even th...