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William M Mercer supports Governments stance on stakeholder


William M Mercer has criticised financial services industry attempts to turn stakeholder into pseudo-group personal pensions.


The employee benefits consultants say it supports the Governments resistance of these industry lobbyists, suggesting that for stakeholder to be successful it needs to return to its original objectives of being simple and low cost.


It believes by keeping stakeholder simple and cheap, the Government will be able to avoid the need for costly advice and prevent confusion between it and other products.


Mercer head of retirement research Paul Greenwood says: &#34Any blurring of the edges between stakeholder pensions and personal or occupational pensions will compromise their role and add further confusion to the marketplace.&#34

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