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Opra wasting time and money says consultancy

Opra&#39s year-long campaign to check whether employers are complying with the stakeholder pension requirements has been branded a waste of time by financial consultancy Grant Thornton.

The firm, which specialises in corporate advice to mid-cap companies, says the exercise is a waste of time and money which will do nothing to encourage greater pensions take-up.

Instead it says Opra should use its resources to chase companies that are threatening employees&#39 pension benefits.

Financial markets groups partner Patrick Storey says: “Opra, with its limited resources, should concentrate on the key issues that threaten members&#39 pension benefits. The operation and security of pensions in force are of far more importance to the average individual than the availability of an employer designated stakeholder scheme.”

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