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's 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: "We 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."