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&#39Sandler against DP and 1% caps&#39

Ron Sandler is believed to oppose the FSA&#39s definedpayment system and 1 per cent caps on products, according to industry sources.

Several industry figures expect Sandler to add his voice to the chorus against DP when he publishes his report, expected in June.

It is also thought he may decide to criticise the 1 per cent stakeholder cap, which could signal an end to the spread of price-capped products.

Sandler is believed to view DP and the cap as reducing consumer access to products and widening the savings gap.

His criticism of with-profits products is expected to include demands for greater transparency and ringfencing of the funds themselves.

Simpsons of Brighton partner Andrew Merricks says: “If Sandler is against the DP system, the FSA has got to listen. If the Consumers&#39 Association, Lloyds TSB and Fidelity have shown flaws in the system, let alone IFAs, it has to go.”

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What employers should expect over the next five years

A major feature of our articles is looking into the Jelf Employee Benefits crystal ball to predict changes and trends that may influence the short and medium term shape of UK employee benefits.  By flagging such changes early we aim to provide our followers with the tools to make sensible and informed decisions on their benefits offerings.

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