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Stakeholder blight fear

The pensions industry should brace itself for another scandal in the wake of the stakeholder launch, according to IFA Torquil Clark.


Wolverhampton-based Clark claims many pension providers are advising investors they will not lose out if they decide to open a personal pension now and transfer it to a stakeholder scheme at its April 2001 launch.


Investors have questioned whether they should open a more expensive personal pension pending the launch of the potentially cheaper stakeholder, expected to have a 1 per cent cap on charges.


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