Retail groups have scrapped plans for an industry-wide stakeholder pension after a feasibility study favoured increasing the membership of occupational schemes, reports Professional Penisions.

The decision could boost the profile of occupational funds, which many industry figures have said could be undermined by stakeholder. Geof Pearson, pension manager of the J Sainsbury scheme, said the decision had been taken by a 20-strong group of large employers, including Tesco, Marks & Spencer and Dixons - after considering a number of issues.
He said that although one or two of the group of 20 said they would continue to loook at stakeholder, it no longer amounted to an industry-wide initiative.