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PFSM helps to gift a stakeholder

Punter Southall Financial Management (PSFM) is entering the pensions market for the first time with the introduction of the gift a stakeholder pension.

The pension can be set up on an individual basis only and is aimed at people who are eligible for a stakeholder pension, although PSFM is also focussing on people who want to set up a pension for their children or other young relatives.

Gift a stakeholder will allow access to 13 pension funds provided by Scottish Equitable, which cover different levels of risk. These include funds ranging from cash, long gilt, UK index tracker, Japan and technology. The annual management charge is set at 1 per cent.

In contrast the Scottish Equitable individual stakeholder pension has an annual charge of between 0.75 and 1 per cent, depending on which if the 17 available funds that the investor chooses.

According to Standard & Poor’s the Scottish Equitable ethical fund is first quartile, the Japan, North American, UK equity and UK index tracker funds are second quartile, the global and mixed funds are third quartile and the cash, European, long gilt and technology funds are fourth quartile, based on £1,000 invested on a bid-to-bid basis with net income reinvested over one years to June 11, 2001.


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