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DSS calling for IFAs to advise on stakeholder

IFAs are being actively recruited for the Government&#39s stakeholder


helpline despite continued DSS protestations that stakeholder will not need


professional advice.


The DSS says it will open a helpline manned by “trained experts” to talk


consumers through stakeholder material provided by the Government and the


FSA, including decision trees, in October.


The helpline will be managed by the occupational pensions advisory scheme.


It aims to help consumers understand the relationship between stakeholders


and existing pension arrangements as well as other areas.


The helpline number will be published in a new Government stakeholder


guide for consumers and the DSS expects the line will play a major role in


educating the public ahead of stakeholder&#39s launch in April 2001


Making the announcement on the opening of the helpline, the DSS was


adamant it would not encroach on financial advice. An official statement


said: “The line will not provide specific financial advice.”


But Opas chief executive Malcolm McLean says: “We are looking for the


widest knowledge possible frompension consultants to financial advisers.”

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