The Confederation of British Industry and law firm Hammond Suddards Edge have produced an employer's guide to stakeholder.
The stakeholder survival guide is aimed at helping businesses legally bound to offer the new pension scheme, helping them educate employees about the need to make provision for their retirement.
The booklet explains the new obligations on firms to choose a stakeholder pension scheme and outlines the steps employers should take to comply with new rules which come into effect on October 8. The CBI says the booklet will help employers decide if stakeholder pensions affect them and how to prepare for their new obligations.
The guide explains what steps an employer needs to take when selecting a stakeholder pension scheme providers and pass on relevant information to employees.
CBI director general Digby Jones says: “Stakeholder pensions will provide many more people with access to good value pensions as a means to save for retirement and the CBI has successfully lobbied to minimise the burden of new rules to business. The guide sets out in clear and practical terms how to go about determining the effect stakeholder pensions will have on your business.”