The Printing Industry Pension Scheme (PIPS) has chosen Legal & General as the sole provider of stakeholder pensions for its members.
The scheme will have a single price charge of 0.87% for pension administration and promotion.
The deal was negotiated between independent financial adviser Meridan, acting closely with the BPIF and GPMU, and Legal & General.
Meridan partner Alan Hudson said many pension companies were struggling to keep under the 1% cap for charges on stakeholder pensions required by the forthcoming 2001 Welfare Reform Bill. He added: "In the past there were high up-front charges in the early years. Under this scheme money will grow quicker."
Have your say in the Printweek Poll
Related stories
Latest comments
"Following content from the EcoVadis website:
<i>An EcoVadis medal or badge is NOT a certification or an endorsement of a company or its products or services, and it does not indicate that the..."
"Lee De’ath, starting to feel typecast in the insolvency department? Fancy a change in a career? Children's entertainer maybe?"
"Fantastic investment its great to see."
Up next...
Strong organic growth at firm
Onboard Corrugated sold to Eren
Fluorescent pink added
One Digital brightens up printroom with new Iridesse
"An exciting leap forward"
Administrator launched for packaging EPR scheme
First Hunkeler appearances lined up