The Treasury yesterday softened its tone on the appropriate level of charges for a proposed suite of...
The Treasury yesterday softened its tone on the appropriate level of charges for a proposed suite of new low-cost "stakeholder" savings products, reports the Financial Times. Speaking at a seminar on the recent Sandler report, Ruth Kelly, financial secretary, signalled that the government was open to persuasion on charges for the proposed products, which include mutual funds, pension and with-profits policies. However, she reaffirmed that its starting point was the 1% cap that applies to "stakeholder" pensions. Kelly said the government agreed with Ron Sandler's conclusion that a ...
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