301013 reducing costs for pension members
Tel: 020 7893 3456 Fax: 020 7487 3686 www.broadstoneltd.co.uk
55 Baker Street London W1U 7EU
PRESS RELEASE For immediate release: 31 October 2013
BROADSTONE comments on moves to reduce costs for pension members.
Commenting on the government’s calls to reduce costs for pension members, Mark Howlett, Chief Executive of BROADSTONE commented, “BROADSTONE welcomes any move to reduce costs for pension members. Costs are, however, coming down anyway through the normal market mechanisms and the proposed cap is above the current average annual cost of 0.55% for new schemes. Given this, the proposals are a blunt instrument, scheme members will all be shoehorned into a low cost policy which inevitably will mean a policy with fewer options. There seems no reason why pension members who choose to pay a little more for greater options should be prevented from doing so. “The real scandal of charges lies not with new schemes but with old schemes which we understand will now be addressed and brought in to the spot light.”
For press information contact: Simon Nicol Broadstone Corporate Benefits Ltd 020 7893 2339 [email protected]
Nick Rudd Broadstone Corporate Benefits Ltd 020 7893 3321 [email protected]
Jenette Greenwood Redleaf Polhill 020 7382 4761 [email protected]
Oliver Parry Redleaf Polhill 020 7382 4762 op@redleafpr,com
– ENDS –
Notes to editors:
All references to Broadstone Corporate Benefits Ltd must be made in full.
For more information go to: http://www.broadstoneltd.co.uk
Broadstone Corporate Benefits Ltd - Registered in England and Wales under No. 07978187. Registered office 55 Baker Street, London W1U 7EU.
55 Baker Street London W1U 7EU
PRESS RELEASE For immediate release: 31 October 2013
BROADSTONE comments on moves to reduce costs for pension members.
Commenting on the government’s calls to reduce costs for pension members, Mark Howlett, Chief Executive of BROADSTONE commented, “BROADSTONE welcomes any move to reduce costs for pension members. Costs are, however, coming down anyway through the normal market mechanisms and the proposed cap is above the current average annual cost of 0.55% for new schemes. Given this, the proposals are a blunt instrument, scheme members will all be shoehorned into a low cost policy which inevitably will mean a policy with fewer options. There seems no reason why pension members who choose to pay a little more for greater options should be prevented from doing so. “The real scandal of charges lies not with new schemes but with old schemes which we understand will now be addressed and brought in to the spot light.”
For press information contact: Simon Nicol Broadstone Corporate Benefits Ltd 020 7893 2339 [email protected]
Nick Rudd Broadstone Corporate Benefits Ltd 020 7893 3321 [email protected]
Jenette Greenwood Redleaf Polhill 020 7382 4761 [email protected]
Oliver Parry Redleaf Polhill 020 7382 4762 op@redleafpr,com
– ENDS –
Notes to editors:
All references to Broadstone Corporate Benefits Ltd must be made in full.
For more information go to: http://www.broadstoneltd.co.uk
Broadstone Corporate Benefits Ltd - Registered in England and Wales under No. 07978187. Registered office 55 Baker Street, London W1U 7EU.
