Allied Dunbar has unveiled details of its group stakeholder scheme which is set for launch in October.
Dunbar claims its decision to wait until up to six months after most players have launched their group propositions is down to its desire assess the market without rushing in.
The new Dunbar product will not be available on an individual basis, with the Individual Retirement Plan remaining the life office's vehicle for individual personal pension planning.
It also says its stance on stakeholder business is that fees should be paid to advisers wherever possible. Fees for advisers in its franchise network on the new product will be 2.25 per cent level on all contributions provided scheme contributions are £500 or more.