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Small businesses unaware of stakeholder

A survey carried out by the Prudential shows that 63 per cent of small employers do not know that stakeholder pensions will go on sale in April.

Failure of companies with more than five staff to offer access to stakeholder pensions by October 8, 2001 could result in prosecution and fines of up to £50,000.

It is believed that around 250,000 employers will for the first time have to set up arrangements for employees to pay in to stakeholder pensions.

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