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Clerical gives root to onlinedecision tree for employers

An interactive decision tree for employers is being offered by Clerical Medical with the aim of boosting IFA sales of stakeholder.

Although the decision tree concept has been criticised by many pension experts, Clerical believes its model, which helps employers determine if they are liable to offer stakeholder, will support IFAs.

The tree will be made available in a paper format over the next few weeks but the life office says it plans to offer an interactive version on its IFA website. The tree starts with the questions: “Do you have five or more employees?” and “Does your company have a pension scheme?”

It then works through a variety of scenarios where the employer has a group personal pension, money-purchase or final-salary occupational scheme before describing the action the employer needs to take to meet its legal requirement in the stakeholder era.

The tree also details all the requirements that a group personal pension or occupational scheme will have to need to meet to be a permitted alternative to stakeholder.

All branches of the tree lead to employers needing to seek independent financial advice.

Pensions strategy manager Nigel Stammers says: “This decision tree is designed to help employers through the post-stakeholder maze. It sets out the main options available and identifies situations where advice will be needed.

“It provides a relatively clear way of identifying if anything needs to be done by employers.”

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