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Scottish Life says individual Stakeholder schemes are unviable

Scottish Life says it is not economically viable for it to offer stakeholder pensions under the current constraints outlined in the Department of Social Security Consultation brief.


In its response to the brief the life office says: &#34At the maximum levels of charge and minimum premia outlined in the document, our calculations have led us to the conclusion that is will not be economic for us to distribute stakeholder pensions to individuals.&#34


It concludes that there are few reasons to be optimistic that stakeholder for individuals will ever be profitable for providers.


Scottish Life says to offer such schemes would involve &#39substantial cross-subsidy&#39 from existing policyholders and says its board would find it difficult to justify this cost.

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