View more on these topics

Major employers fail to understand stakeholder rules

Big businesses remain apathetic and misinformed about stakeholder, according to research by consulting actuary Punter Southall.

The pension expert surveyed managers in the UK&#39s biggest 250 companies earlier this year. It found that only 10 per cent of employers expect to offer stakeholder schemes to their contractors and 23 per cent to temporary staff.

In fact, both sets of employees may be entitled to membership even though they are excluded from many existing occupational schemes.

The survey also found that 62 per cent of employers do not propose to set up a stakeholder scheme by the official launch date on April 6.

But Punter Southall says businesses will eventually have to set up a stakeholder plan, bringing new business to IFAs with corporate clients.

Principal Steve Leake says: “It is alarming that such a large proportion of big business players fails to appreciate or choose to ignore even the most basic legal commitments enforced on them by stakeholder regulations.

“Those companies which have not yet taken concerted action to address the new rules must seek professional advice immediately. The bottom line is that if they let apathy prevail, they can expect to see a stern letter and a hefty fine from Opra in October when the deadline for implementation expires.”


Flexible stakeholder from CIS

Co-operative Insurance Society says its stakeholder pension offering will be one of the few products to offer a with-profits fund option with the facility to waiver premium and life cover. CIS&#39s stakeholder scheme lets people choose from a range of funds including with-profits, UK growth, European growth, Environ, US growth and FTSE all-share index tracker. […]

Premier Asset Management – UK Blue Chip Fund

Tuesday, 27th March 2001.Type: Sicav.Aim: Growth by investing in UK companies in the small, mid, large-cap, undervalued assets and special situations sectors.Minimum investment: £2,000.Place of registration: Luxemburg.Investment split: Small-cap companies 25 per cent, mid-cap companies 25 per cent, large-cap companies 25 per cent, undervalued assets and special situations 25 per cent.Isa link: No.Charges: Initial 5 […]

Exchange offering investment bond quotes

The Exchange is rolling out a comparative quotation service for investment bonds from eight providers.The service allows IFAs to obtain and compare quotes for 39 investment bond products from the providers.Companies signed up for the service so far are Prudential, Friends Provident, NPI, Norwich Union, Royal & Sun Alliance, Axa Sun Life, Scottish Mutual and […]

Aegon contender for R&SA life book

Aegon is understood to be in talks with Royal&SunAlliance about buying its life business. Industry sources say Aegon representatives are currently talking to investment bankers brought in by R&SA to price its life book as a separate business to general insurance. R&SA have said that its primary focus is its general business but sources believe […]

Converting pension savings to a retirement income…

Since last year’s reforms to pension legislation, a significant number of retirees have chosen income drawdown over purchasing an annuity. Income drawdown is more flexible than an annuity. However, it also increases the likelihood that individuals won’t be able to maintain their income throughout their lifetime. In this short video, we explain the risks that […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm