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Concurrency to go

The Government is to scrap stakeholder concurrency rules as part of its pensions Green Paper.

Under current rules people who are members of an occupational pension scheme and earning more than £32,000 a year are prevented from investing in a stakeholder.

But under the proposals this bar to concurrency is lifted allowing all scheme members to now contribute to a stakeholder plan. The move could now spell the end to additional voluntary contributions and free standing AVCs.

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