-
Schemes can be set up under trust or alternative approved governance
structure based on contract law.
-
Standard maximum 1% charge is to cover provision of annual fund
statements, provision of basic information, and explanatory material.
-
Retirement cash permitted of 25% of the fund (except protected
rights fund).
-
Income withdrawal to be permitted.
-
Contributions can be stopped, without penalty.
-
Transfers in and out must be allowed, without charges.
-
Retirement age to be between 50 and 75.
-
Life cover to be restricted to that provided by 10% of the stakeholder
premium