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DBS teaming up with Scottish Mutual for nursery stakeholder


DBS is teaming up with Scottish Mutual to offer a &#34stakeholder friendly&#34 group personal pension scheme for nursery staff.


DBS, which boasts 1,800 member firms and 2,750 RIs, believes the nursery sector, which has average earnings in the range of £8,000 to £15,000 a year and a predominantly female workforce, is an ideal market for stakeholder pensions.


The scheme comes as Legal & General launches an affinity based stakeholder in association with IFA Kingsworld Walder. The Voluntary Sector Stakeholder has been designed for charities and other voluntary sector employers.


It follows Legal & General&#39s launch of an affinity scheme for hairdressers earlier this year.


The DBS scheme, arranged by London-based network member Nightingale Associates, was launched by Margaret Hodge, minister for employment and equal opportunities, in the House of Commons.


The flexible group scheme allows members to stop and start payments without restrictions or penalty, has a 101 per cent allocation and a 5 per cent bid offer spread.


Hodge says: &#34We are trying to build the status of this profession and make people in it aware of the need to make provision for their future.&#34


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