These would extend the key features of the stakeholder pension no initial commission on saving and a cap on charges of 1% of the fund to other savings products such as unit trusts and with-profits policies.

ECONOMIST: Saving

In Britain, such funds, locally known as unit trusts, have become a booming industry, thanks to a deep stockmarket and a modest social-security system.

ECONOMIST: A survey of fund management

Savers are deserting banks for more rewarding places to park their money, such as in mutual funds (unit trusts, in Britain) and insurance policies.

ECONOMIST: It��s got to fit somehow