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Torquil Clark urges appointed adviser for stakeholder

Torquil Clark has written to new pensions minister Ian McCartney to urge him to ensure every stakeholder scheme has an appointed advisor.

The IFA says this would allow the benefits of scheme membership to be adequately promoted to staff and also give employers the required level of support for the management and administration of schemes.

The letter, penned by pensions development manager Tom McPhail, states: “There is one single measure which could be introduced which would have an immediate and lasting impact on the level of private pension funding in the UK. Quite simply every employer designated stakeholder scheme should be required to have an authorised regulated individual appointed to it.”

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