As of April 2002, product providers of money purchase schemes will have to annually issue members a ...
As of April 2002, product providers of money purchase schemes will have to annually issue members a projection of the value of the fund at retirement in addition to its current value. In a consultation document from the DSS, the Government is proposing legislation that would create a standardised format for calculating the value of a money purchase scheme forward to the member's retirement. The projection would also apply to stakeholder pension schemes. Stewart Ritchie, pensions director at Scottish Equitable, said money purchase schemes have, until now, only been required to provide his...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes