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Government to allow parallel pension holdings under stakeholder

The Government will announce today that it is prepared to allow people to hold more than one pension plan at a time according to the Financial Times.


The plans outlined within the final consultation paper on stakeholder pensions, postpones a final decision on the issue but indicates ministerial backing for the idea.


The FT says ministers favour the concept, but only on two conditions. First compliance issues must be settled such as how to prevent abuse of tax relief.


Secondly the industry must still want parallel holdings once it has seen all the details regarding the new tax regime.


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