Among the myriad of changes and proposals that have hit the pensions market over the past decade, th...
Among the myriad of changes and proposals that have hit the pensions market over the past decade, the introduction of the government's stakeholder pensions from April 2001 will, arguably, have greater implications for the UK pensions market than anything that has preceded it.
Understandably the information surrounding stakeholder is intensifying and making your way through the literature to find the clear answers to basic questions is becoming increasingly difficult.
To make your job easier, Investment Week has teamed up with Colin Batchelor, the manager of NPI's award winning technical advisory service (Tas), to provide a series of regular updates, covering the key issues surrounding stakeholder pensions, such as, the shape so far, what it means for employers and concurrency.
Colin Batchelor, is a regular contributor to Investment Week and has headed the NPI Tas team for over a decade. The team provide technical information to IFAs, including a dedicated technical help line which receives, on average, 300 calls a week. A recent survey showed that 99% of customers highly regard the service. The NPI Tas team has been awarded the best helpdesk in the industry award, for three years running.
Things have moved quickly and a lot of water has flowed under the bridge since the then Secretary of State for Social Security, Harriet Harman, announced, in July 1997, a wide-ranging review of pensions. Now July 2001 is just around the corner and there's a lot happening surrounding stakeholder pensions.
The planning chart below outlines the key dates that have featured in the run up to stakeholder pensions and those that will be relevant from here and beyond.
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