View more on these topics

Govt urged to curb stakeholder ignorance

Pressure is mounting on the Government to spend more cash on stakeholder education following the revelation that many small businesses remain ignorant of their new obligations.


The quarterly Finance Line survey from marketing information specialist Taylor Nelson Sofres shows that more than two-thirds of businesses with turnover between £250,000 and £1m are unaware of their duty to provide employees with access to a pension scheme under the stakeholder regime.


The July 2000 survey questioned 981 individuals responsible for financial matters in companies with turnover of up to £1m in England and Wales.


It also questioned 281 small companies with incomes of up to £50,000, which revealed that only three out of 10 are aware of their obligations.


The Government has set aside £5m for its stakeholder awareness campaign which kicks off this autumn. The latest findings suggest this figure may not be enough.


TNS Finance director Tim Wragg says: “Clearly, the Government needs to do a lot more work in the next few months to communicate to small businesses the implications of statutory employee access to pensions.


“While this message may be currently getting lost in the clutter of other legislative changes, thousands of small businesses may still be unaware of their legal obligations next year unless the Government invests more resources in a targeted information campaign now.”

Recommended

Pack to the future

Should packagers be brought into line with the rest of the industry and be forced to disclose fees?JM: In my view, defining “packagers” in the mortgage chain is the first requirement for the industry to resolve. Within the definition of packagers, the industry includes mortgage design, outsourcing, master broker and introducer, etc, but clearly some […]

WHERE IS AN ASSET SITUATED?Life insurance policy Generally, where life company is registeredunless written under seal*

WHERE IS AN ASSET SITUATED?Life insurance policy Generally, where life company is registeredunless written under seal* Immovable property Where property is situated Coins and banknotes Where they are situated Registered shares & securities Where they are registered Bearer shares & securities Where certificate of title is registered Goodwill Where business is carried on Interest in […]

When the Sipp comes in

I am 52 and do not expect to want to take all the proceeds for at least another 10 years. How should I invest the fund of some £300,000 for best effect?If you wish to take any of the fund as tax-free cash, you will have to take it now. Once you have started to […]

Cazenove aims at European smaller companies

Cazenove Fund Management has introduced the European Smaller Companies Fund, a Dublin-based sub fund of the Cazenove international fund.Aimed at experienced investors who are looking to get exposure to Europe, the fund is an open-ended investment company (Oeic) that will invest in small European companies that have the potential to grow rapidly. It will aim […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment