NORTH-west people who want more information on stakeholder pensions can now ring a new helpline for impartial information. Launching the helpline Social Security Minister Jeff Rooker said: "Stakeholder pensions will, for the first time, offer millions of people a good value, secure and flexible second pension. Stakeholder pensions will be available from April 2001, and very soon people are likely to be receiving information from companies providing stakeholder pensions."
The helpline will be run by OPAS -- the Pensions Advisory Service -- and funded by the DSS and the Financial Services Authority. The stakeholder pensions telephone helpline is 0845 601 2923. Calls are charged at local rates. The line is open between 8.30am-6.30pm, Monday to Friday.
Trained staff will talk to callers so they have a better understanding of what stakeholder pensions will involve. Callers might ask about:
How stakeholder schemes must operate and the rights of members;
What their employer may be required to do; and
The relationship between a stakeholder pension and existing pension arrangements.
"People who can save for their future have a responsibility to do so," Mr Rooker continued. "If you want to enjoy your retirement you need to plan for your future as early as possible. This helpline will help you understand more about what is on offer."
Malcolm McLean, Chief Executive of OPAS said: "Our staff are ready and able to help people find out about stakeholder pensions. The service will aim to help people understand what is on offer in a clear, easy to understand way."
The line will not provide specific financial advice, and will not market stakeholder pensions or schemes.
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