The Treasury is in the process of setting up a steering committee to work on the design of Ron Sandler's proposed 'stakeholder' products.
These products will work along the same charging lines as stakeholder pensions and will be very low charged. This is good news for investors that currently have some products with higher charges than 1%.
Work will be done by the committee, which is to consist of bodies such as the Association of British Insurers, the Association of Independent Financial Advisers and the Investment Managers Association, as well as other industry bodiesIt is understood that the Treasury plans to hold a meeting on 9 October to discuss how it intends to mover forward with Ron Sandler's proposals.