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FOG calls for stakeholder exemption on some GPPs

Financial Options Group is calling for firms paying 3 per cent or more into company group personal pension schemes to be exempted from having to offer Stakeholder pensions.


In its response to the Department of Social Security&#39s Consultation Brief No. 2, the network says if a GPP scheme meets the necessary standards there should not be any need to arrange a separate stakeholder scheme.


The response says: &#34We agree GPPs should be accessible to all employees notwithstanding the six months waiting period to join.. If an employee chose not to join the would be free to arrange a stakeholder scheme outside the company.&#34



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