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Nearly half of &#39target market&#39 don&#39t know stakeholder

Nearly half of people on average or below-average earnings have not heard of stakeholder a year after its launch, according to research for Norwich Union.

Research carried out by Mori shows that only 57 per cent of people earning between £10,000 and £25,000 a year say they have heard of stakeholder.

Stakeholder awareness increases with earnings, with around 84 per cent of people earning more than £50,000 a year having knowledge of the scheme.

However, only around three out of 10 people earning less than £10,000 a year have heard of stakeholder.

More than two-thirds of people earning between £10,000 and £25,000 a year say they are unlikely to consider taking out a stakeholder in the future, even though nearly 43 per cent have no pension arrangements.

NU has spoken out against the 1 per cent charge restriction and its low take-up among lower earners and says it wants to work with the Government to promote stakeholder among these workers.

Head of individual pensions Iain Buckle says: “This res-earch suggests that the benefits of stakeholder pensions are more familiar to the better off than to those on average or below-average earnings. This is a worry because, for a great many of them, stakeholder might well be a suitable savings option.”


Last post for final-salary scheme

Should we consider winding up our closed final-salary scheme? You have an insured scheme where the investment is via the insurer&#39s with-profits fund and so is protected against adverse stockmarket movements. This has been an advantage as you have not suffered directly the poor stockmarket performance over the last year, unlike some of the schemes […]

&#39Return pension cash if fund fails to top Mig&#39

Scottish Life is calling on the Government to offer pension savers a money-back pledge if their retirement pot fails to reach the level of the minimum income guarantee.Head of pensions strategy Steve Bee says people who find at retirement that their savings are not enough to push them over the Mig threshold should be allowed […]

We won&#39t be tied up in a business straitjacket

I am writing on Mark Dampier&#39s behalf in response to Philip Thomas&#39s latest letter (Money Marketing, April 4), CP121 widens the rich/poor divide).On reading Mr Thomas&#39s latest offering, Mark had, what has been described as a “temporary lapse of sanity”and was carried off by men in white coats for a short break in a straitjacket.Mark […]

Asia the place to invest says Govett

Asian markets are providing improved opportunities for investment says fund manager Govett.It points to evidence that recovery in the region has been supported by positive external macro influences as well as internal growth and says it could be the next region to deliver long-term returns.Govett Asian chief investment officer and manager of its Asia Pacific […]

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What price (more) freedoms?

George Osborne will make his last Budget speech of the current parliamentary term this week, and the early media briefings suggest that pensions will again feature heavily in that statement. So what are we able to learn from the weekend’s coverage?


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