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ScotLife marketing alerts firms over stakeholder date

Scottish Life is embarking on a marketing campaign to help IFAs increase group pension business by targeting employers in the run-up to the October 8 stakeholder deadline.

By then, employers with over five staff must have a stakeholder or suitable alternative pension scheme in place or risk a £50,000 fine.

ScotLife says IFAs should see this deadline as an opportunity to provide pension advice to existing and potential clients.

The campaign includes a range of literature to help IFAs get the attention of employers affected by stakeholder legislation. Leaflets explain the employer&#39s obli-gations under the regulations and the penalties for failing to abide by them.

As part of awareness-raising campaign ScotLife has added a countdown ticker to its website at www.scottishlife.co.uk.

ScotLife says recent reports suggest the majority of the 400,000 employers affected by the legislation have still to make suitable arrangements.

Head of communications Alasdair Buchanan says: “The IFA community is perfectly positioned to benefit from the current situation. Most of the employers who are affected will need some degree of advice and IFAs are without doubt the best qualified to provide it. Using Scottish Life&#39s new literature, it should be happy days for IFAs as they make the most of this golden opportunity.”

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