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L&G in stakeholder deal with print groups

Legal & General has been chosen as the sole provider of stakeholder pensions to members of the Printing Industry Pension Scheme.

The annual management charge will start at 0.87 per cent of funds under management, with scope for further reductions built in by the IFA firms servicing the schemes, Meridan and RSM Robson Rhodes.

Pips is co-sponsored by the Graphical, Paper & Media Union and employer federation the British Printing Industry Federation.

GPMU president and chair- man of the Pips committee Ray Williams says: “The committee is confident companies in the printing industry will see the Pips scheme as an attractive option when selecting a stakeholder plan.

“Pensions generally remain a difficult subject to understand and we are pleased with the efforts made towards making Pips a user-friendly scheme.”

Meridan partner Alan Hudson partner says: “We are delighted to have reached an agreement with L&G. The terms will be an attractive option for those printing companies who will need to designate a stakeholder pension scheme from October 2001.”

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