Barclays: Pension plans become more flexible

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Barclays: Pension plans become more flexible

Barclays Financial Planning has announced the launch of two new pension schemes, which it claims offer greater flexibility to clients.

The new plans include elements of the traditional pension but can be tailored to fit individual's needs.

David Stuart, director of investment advice and products at Barclays Financial Planning, said that the new offerings are much more flexible than standard stakeholder plans but had none of the complicated structure of a fully self-invested personal pension.

He added: "We have seen customers wanting to look at alternative investments which would not be available in a basic stakeholder pension. This new product gives them that option."

A recent survey by Legal & General found that more people would be likely to pay pension contributions if more flexible plans were offered.

The pension provider said more flexible schemes were commonplace in the US and New Zealand.

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