The National Hairdressers' Federation has joined with Legal & General and Advizas to launch a pre-Stakeholder pension scheme.
The affinity group pension will be available to the federations 5,000 plus members from September 1.
The scheme which will be set up as a group personal pension, was negotiated by Advizas on the NHF's behalf.
L&G are providing the scheme with a full transferability guarantee when stakeholder become available in two years. The guarantee means the policyholder will automatically benefit from stakeholder charges if they choose to convert it to a stakeholder plan in 2001.
The plan has a 5 per cent bid/offer spread and an annual management charge of 0.5 per cent. The allocation rate is 100 per cent.