Stan Life estimates up to 4,000 staff needed for personal accounts

The provider says the Government’s personal accounts plans ask the industry to double capacity over night and the vast resources needed to set up the administration services will create a huge financial burden. Standard Life, which will need between 3,000 and 4,000 staff, including 70 to 100 managers, says the practicality of setting up personal accounts could deter providers from entering the market. The comments follow confirmation from Minister of State for Pensions Reform Mike O’Brien the Government will not offer start-up funding to providers. O’Brien says he expects providers will ...