New regulations announced by Pensions Minister Malcolm Wicks will offer owners of stakeholder pensions the choice to move their pensions into less volatile investments as they approach retirement.
Within the new rules, providers will be made to offer ‘lifestyling’ to individuals who do not act independently when making decisions concerning their pension investments. Wicks says: “These regulations will bring the stakeholder pension into the Government's new suite of stakeholder products. The Government claims 'lifestyling' will help to create a greater sense of certainty for people approaching retirement, as it decreases the risk of any unexpected drop in the value of their pension investments. This system would be implemented at least five years before individuals planned to ...
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