§ Lord Taylor of Warwickasked Her Majesty's Government:
When the Treasury will announce its decision on whether to relax the 1 per cent management charge levy on stakeholder pensions. [HL945]
§ The Parliamentary Under-Secretary of State, Department for Work and Pensions (Baroness Hollis of Heigham)The Financial Services Authority is currently consumer testing the simplified sales process for the new stakeholder product suite. The Government will decide on the level of the charge cap for the pension within the product suite when the results of the research are known, later this year.
The form of the selling regime will be one of the factors taken into account by the Government in the decision on the charge cap.