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CIS pension plea to MPs

CIS is writing to MPs in a bid to assure them that product providers are selling stakeholder to its target audience and that compulsion is not the answer to increasing pension provision.

General manager (marketing) Martin Clarke has asked to meet with the speakers at last week&#39s House of Commons debate on stakeholder pensions.

The letter aims to address criticisms from MPs that pension provision in middleto lower-income families is not increasing and that employers are not contributing to pensions.

CIS believes other techniques and incentives could be used to encourage greater pension provision in the UK rather than introducing compulsion.

It says a “carrot rather than stick” approach will be more successful in encouraging people to save and that employers must be given more incentives to contribute.

The letter has gone to MPs including Conservative MP David Willetts, Richard Ottaway, Peter Lilley and John Butterfill, Liberal Democrat Steve Webb and Labour MP Frank Field.

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