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's 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.”