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L&G says 424,000 firms without pension scheme

Research carried out by Legal & General shows 424,000 firms in the UK employing between five and 49 people do not currently offer their staff access to a pension scheme.

Of those who said they would seek advice, 31 per cent would go to an IFA, compared to 29 per cent from a bank, 14 per cent from an accountant and 13 per cent from a pensions company.

The L&G survey also showed 22 per cent of firms with five or less employees, which are exempt from the rules, plan to offer a stakeholder pension to staff.

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