I was very interested to read Adrian Boulding's article on scenario planning in MM's Surviving Stakeholder series.
He gave three scenarios – stakeholder succeeds, compulsion and stakeholder flops.There is a fourth scenario which might be termed “stakeholder succeeds as a catalyst”.
Under this scenario, stakeholder might be modestly successful in its own right but its real importance lies in the increase in employer and public appreciation which its legislation, terms and promotion generate, leading to greater overall provision of pensions and risk benefits.
If you accept that increased appreciation of the pension and related issues will lead to an increased demand for advice, but that stakeholder itself does not easily accommodate advice, you are surely driven towards this fourth scenario.
Here, the stakeholder charge cap can be exceeded if justified and the real worry may be whether enough resour
ce can be made available to meet the demand for advice.
Director (pensions development),