§ Mr. CousinsTo ask the Chancellor of the Exchequer if CAT marking covers the costs of asset management of unit trusts forming part of(a) stakeholder pensions and (b) individual savings accounts; and what plans he has to compare and benchmark such costs that are included in tax supported savings products. [143875]
§ Miss Melanie JohnsonAll stakeholder pension schemes must comply with the statutory restriction on charges set out in the Stakeholder Pension Schemes Regulations 2000—S1 1403, and the Stakeholder Pension Schemes Regulations (Northern Ireland) 2000.
Firms may chose to offer CAT standard stocks and shares individual savings accounts. The charging limits for CAT standard ISAs are set out in the document "CAT standards for individual savings accounts" issued by HM Treasury in December 1998, and which can be found on the Treasury website at: http://www/hm-treasury.gov.uk/pub/html/savings/details.html
462WThe Financial Services Authority plans to launch comparative tables later this year. It expects these to cover, inter alia, personal pensions, including stakeholder pensions, and unit trust ISAs, and to provide information on price.