Standard Life is launching two non-stakeholder friendly pensions in May, but says it will be putting a stakeholder pension on the market next April.
The new personal pension plan and the group personal pension will have a single 1 per cent charge rather than the bid-offer spread of its existing personal pension, moving towards stakeholder compliance. But their minimum contributions do not meet stakeholder requirements.
A Scottish Equitable spokesperson says: ” Standard Life have been very reticent to date. We believe that IFAs have a key role to play in the development of stakeholder pensions, and we have been very open about our plans to provide them.”