Stakeholder providers to refuse cash contributions

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Stakeholder pension providers can decline contributions in the form of cash, according to amendments...

Stakeholder pension providers can decline contributions in the form of cash, according to amendments to the product regulations laid before Parliament by pensions minister Jeff Rooker last week, says Investment Week. Product providers have been lobbying to have restrictions put in place to limit the methods by which contributions can be paid due to the expense it would create in alterations to systems. Other regulation amendments will also amount to cost savings for product providers, according to Ian Naismith, head of pensions at Scottish Widows. Providers will no longer have to te...

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