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Market views

pensions/stakeholder/mmedit.doc

Market Views – from sponsors Clerical Medical





Stakeholder knowledge improving &#45 survey





Since our last update on this site, where we reported that ignorance remained the greatest hurdle to the success of stakeholder (May 2000 survey), our new survey shows that the situation is improving. Our September study revealed that 89% of companies have now heard of stakeholder and levels of understanding of company obligations under the new regime are considerably better than in May. Here are some figures:




  • 89% of all companies have heard of stakeholder


  • 81% of the smallest companies (5-25 people) have heard of stakeholder


  • 77% of employers understand that they definitely or probably need to organise payroll deductions for stakeholder schemes


  • 77% also recognise their commitments to making staff aware of the scheme

But some major misunderstandings remain amongst employers:



  • 50% definitely or probably expect to have to contribute to a scheme


  • 63% definitely or probably expect to have to administer a scheme


  • 64% definitely or probably expect to have to provide financial advice to employees

But employers need do none of these under stakeholder.

Registered for stakeholder





OPRA registration for Clerical Medical&#39s stakeholder pension has been given, formalising the company&#39s position ahead of the April 2001 arrival of the stakeholder regime. The company believes that the few remaining pieces of regulatory detail which remain to be clarified should not prevent any companies from registering. Clerical Medical believes that by the end of January any company which is serious in playing in the stakeholder market will have registered.





Find out more at www.clericalmedical.co.uk





 



 

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