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Only 19% of firms offer a stakeholder scheme

Only 19 per cent of companies offer a stakeholder scheme but 86 per cent believe the Government will make employer contributions compulsory, according to research by Momentum.

Findings in the study exclusive to Money Marketing of over 500 companies with between 50 and 250 employees reveal only 19 per cent say they fully understand the stakeholder legislation.

Although the vast majority of employers think they will be forced to contribute to staff pension schemes, 9.5 per cent of respondents pay nothing.

The survey found that group personal pensions are the most popular pension schemes, with 44 per cent offering them.

Momentum&#39s research illustrates a lack of understanding over the difference between independent advisers and tied agents. Although 90 per cent of companies bel-ieve that independent advice on pensions is essential, 72 per cent get advice from tied agents.

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