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GPP exemptions would make stakeholder a damp squid

CIS has called upon the Government not to give group personal pension plans an exemption under stakeholder proposals.


It claims this will render the proposals a damp squid.


The life office says it is not satisfied there is any rational basis for allowing GPPs an exemption.


Because GPPs have non-occupational status CIS claims they are not likely to meet the charging constraints set out under stakeholder.


Its general manager marketing Martin Clarke says: &#34If GPPs are allowed exemptions on the bases proposed, we believe the Government will fail in its aims to control charges and simplify pension provision.


&#34The previous consultation document highlighted the Government&#39s aim to make stakeholder pensions highly transparent in terms of features and charges but allowing such exemptions would simply undermine this aim.&#34


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