ROYAL BANK of Scotland has decided to withdraw from the stakeholder pensions market after experiencing a "limited demand" for the products, reports the Scotsman.
RBS' move will withdraw its range of stakeholder products sold through its Royal Scottish Assurance and NatWest Life subsidiaries. Customers holding a stakeholder policy with the group will be transferred to Norwich Union - which already acts as fund manager for the two RBS life assurance operations. A spokesman for RBS told the Scotsman: "We have seen limited demand for the product since its launch in 2001 and as a result have concluded that the needs of our existing stakeholder pension customers can be best served by closing the existing scheme and recommending our life & pensions par...
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