GPP 3% rule does not exempt employers from stakeholder, says Treasury

All employers who offer a group personal pension scheme and pay 3% employer contributions will still be breaking the law and will not be exempt from having to provide access to stakeholder pensions by October 8 if the package also includes waiver of premium, the government disclosed this morning. A telephone conversation with the Treasury surprised Scottish Life officials when they were told the waiver of premium -which many IFAs encourage employers to add to employee benefits packages - is seen as part of the overall package being offered to the employee's GPP scheme, and is therefore ...