The Treasury and Department for Work & Pensions have released the long-awaited consultation document...
The Treasury and Department for Work & Pensions have released the long-awaited consultation document into simplified savings products first proposed by the Sandler Report.
Focus is placed on three key features of any such products: simplicity, risk control and low cost.
Any products categorised as Stakeholder Investment Products will have to be easily understood, limit any potential losses to consumers, and be charge-capped to "ensure good value for money".
The government proposes a three-month consultation period, with final specifications being proposed in the summer.
Once in place, the specifications should be viewed by product providers as minimum standards, but there will be no limits on "product innovation" that may provide particular segments of the population with more targeted products.
The deadline for responses is Friday 2 May.
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