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Larger employers on course for stakeholder

Seventy five per cent of British businesses with a turnover of more than £1m have now either set up a stakeholder pension scheme or believe their existing arrangements are sufficient ahead of the 8th October deadline.

According to new research from Axa, that leaves an estimated 32,500 larger employers who need to take action.

Head of pensions marketing Steve Burgess says: "Worryingly, nearly two-thirds of companies without a Stakeholder scheme are either unaware of the October deadline or don’t think it applies to them. Clearly there is still a strong feeling amongst businesses that the introduction of Stakeholder Pensions does not affect them.”

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