Watson Wyatt, the benefits consultancy, is planning to use the introduction of the Mandatory Provident Fund to launch a range of pension services. Senior managers have had meetings with fund management groups and pension providers to discuss the feasibility of add-on services, such as the keeping of records for pension schemes. The company said it would also like to offer generic advice about schemes to companies introducing plans for their employees. Watson Wyatt has dismissed suggestions it is planning to provide custodial or trustee services in joint ventures with fund management groups. It has also denied any conflict of interest in its role as adviser to the Government on the pension scheme and as a possible future service provider. Managing director and actuarial consultant Grahame Stott said: 'I don't think it is unethical at all. There are Chinese walls between those working for the Government and us.' Mr Stott said the situation would remain fluid until pension providers had a clearer idea of the Government's final proposals for the scheme.
