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Ethical choice for Holden Meehan

IFA firm Holden Meehan is introducing the UK&#39s first ethical stakeholder friendly group personal pension in conjunction with Friends Provident.

This unit-linked pension has been designed to give employees an ethical option before the introduction of stakeholder pension in April 2001. Contributions can be made at any time and the minimum regular contribution is £20. There are no initial charges or members&#39 policy fees and there is a waiver of premium option.

Employees can invest in a range of Friends Provident funds including two specific ethical funds – stewardship and stewardship managed. An ethical lifestyle option is available, which switches investments according to employees needs as they near retirement.

The pension is suitable for employees who are concerned about protecting the environment and who want to save for their retirement by investing in ethical funds.

It is a novel idea and Holden Meehan feel there is a great demand for this type of product. However, the stakeholder friendly market is very competitive and green issues could have limited appeal if people are more concerned about making the most money they can for their retirement.

According to Standard & Poor&#39s, the Friends Provident Stewardship fund is ranked 137 out of 241 funds based on £1,000 invested on a bid-to-bid basis with gross income reinvsted over three years to November 6, 2000.

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