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Stakeholder charge raised to 1.5 per cent for first 10 years, 1 per cent thereafter

The stakeholder price cap for pensions is to be raised to 1.5 per cent for the first 10 years of the life of a product and reverting to 1 per cent thereafter, Money Marketing can exclusively reveal.

The Government is expected to announce the increase in the price cap in Parliament this afternoon.

Life offices had been calling for a combination of a front-end charge of 3 per cent or 5 per cent and an annual management charge, but the Treasury favours keeping a monocharge model.

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Benefits - thumbnail

Global benefits predictions for 2015 from Jelf International

According to Doug Rice, managing director of international services, in 2015, managing their international duty of care will become an increasing focus for UK-based overseas organisations in both managing their short- and longer-term challenges. As a result, strong independent advice and innovative technological solutions will become more important than ever in managing their global benefits.

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