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Small firms set to boost sales of stakeholder

Small employers with fewer than five staff could give stakeholder a boost by offering their employees a pension even though they are exempt from doing so, claims Legal & General.

According to L&G&#39s research, just 54 per cent of employers with between one and four staff were aware of stakeholder but it says, of these, 22 per cent could offer employees access to a scheme.

The survey questioned 1,000 employers in total, representing smaller companies with under 49 staff. L&G found that 60 per cent intend to set up and contribute to a stakeholder.

Current regulations say all companies with five or more employees must offer access to stakeholder scheme after April 6. If they do not do so by October 8, they face a fine of up to £50,000.

The survey was carried out for L&G by Taylor Nelson Sofres between January 25 and February 16.

L&G pensions strategy director Adrian Boulding says: “This research shows that there are around 10,000 firms in the UK which are exempt from the stakeholder pension legislation but say they are going to offer a stakeholder pension to their staff anyway, so tens of thousands of additional employees will be able to get a stakeholder at work.”


Taking a simpler approach

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Norwich Union – Your Pension @ Norwich Union – Group

Friday, 9 April.Type: Group stakeholder pension.Minimum premium: £20.Minimum group size: 1.Minimum-maximum ages: 16-74.Fund links: Stakeholder with-profits, balanced managed, UK index tracker fund, sustainable future managed, retirement protection, deposit, defensive managed, UK equity, European equity, US equity, global bond, global equity, Pacific equity, index-linked gilt, gilt, international index tracker, property, sustainable future UK growth, sustainable future […]


It&#39s official – the lunatics are in charge of the asylum.Having spent more than 10 years raising standards so high that only a weightlifter can carry a key features document, illustration and reasons-why letter at the same time, apparently anyone will be able to sell anything to anyone in future – so long as they […]

Radice outlines routes to redress

Equitable Life Treasury select committee chairman Giles Radice has outlined three possible ways of compensating policyholders over the debacle. In an interview for BBC&#39s Moneybox programme last week, Radice was asked if policyholders could consider suing Equitable for compensation on the grounds that they were misinformed about the company&#39s true financial situation. Although the Treasury […]

Key themes for 2017

Capital Market Notes, December 2016 Dave Lafferty, chief market strategist at Natixis Global Asset Management, assesses the accuracy of his 2016 outlook and provides his thoughts and outlook for 2017. Click here to read the full article


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