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UK workers miss out on over £745m in stakeholder pension contributions

One and a half million UK workers have missed out on over £745m in stakeholder pension contributions since October 2001, according to HSBC. The bank says the missing millions are the result of a lack of significant incentives to encourage employer contributions, along with red tape facing employers who wish to run staff pension schemes.

Head of life and pensions Harpal Karlcut says: “Our figures show that there is still a massive amount of money that is not being invested in pensions, despite a huge perceived shortfall in retirement provision.”

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