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Pru urges firms to act on stakeholder or face fines

Prudential is running a a nationwide stakeholder ad campaign urging

employers to act now or risk stiff fines later.

The campaign will include the national and trade press, radio, online and

ads in taxis.

Alongside the ads, the Pru is writing to 300,000 small to med-ium-sized

companies.

A spokesman says although it already has more than 10 million employees

signed up for stakeholder through its deals with the Trades Union Congress

and the British Chambers of Commerce, it aims to capture a sizeable portion

of the small to medium-sized companies market.

The ads are targeted at employers, employees and advisers. They consist of

a list of criteria which then pose the question: Do other providers tick

all the right boxes?

They urge employers to act now and set up a plan for their company rather

than wait and risk not meeting the October deadline imposed by the

Government.

Prudential head of brand communications Karen Richardson-Fowles says: “The

stakeholder market is a crowded one and, with charges capped at 1 per

cent, it can be difficult to differentiate from the competition. Our

objective is to provide a competitive stakeholder scheme that does not

become an administrative burden for customers.”

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