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Stakeholder army grows

Norwich Union, Virgin and Direct Line have formally joined the growing army of life offices expected to offer stakeholder pensions.


Supermarket Marks and Spencer and Tesco have already pledged involvement.


The move flies in the face of industry worries the maximum 1 per cent annual charge for running clients&#39 stakeholders is too low.


But while big players like Legal & General and CGU are indicating they will also enter the stakeholder market other names including Standard Life and Natwest are waiting on more details before making a decision.


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