A business which employs five or more members of staff and offers no other qualifying pension arrangement is legally obliged to offer employees access to a stakeholder pension
To find out more information about stakeholder pensions
, visit www.unbiased.co.uk or call 0800 085 3250 to find an independent financial adviser.
You can make direct additional contributions to a Stakeholder Pension
Plan, as well as contributions to an AVC and/or FSAVC arrangement or a Personal Pension Plan.
"However, very few mums are taking advantage of the fact they, their spouse or someone else can pay into a stakeholder pension
in their name even if they aren't working."
Financial Secretary Ruth Kelly said stakeholder pensions
offered 'excellent value' for savers as the revised cap included the cost of basic advice for the first time.
You should choose a registered stakeholder pension
scheme or schemes from the list of registered pension schemes held by the Occupational Pensions Regulatory Authority.
``You need to be planning from the cradle to the grave and a stakeholder pension
can be taken out for a one-day-old baby.''
The government introduced Stakeholder pensions
to encourage those earning pounds 10,000 to pounds 20,000 a year to save for their retirement.
Meanwhile Marks and Spencer Financial Services estimates that 38% of firms with five to 20 employees failed to establish lowcost stakeholder pension
schemes for staff before the October 8 deadline.
From now on companies that do not offer staff access to a stakeholder pension
risk fines of up to pounds 50,000 unless they qualify for exemption.
Charlotte Parry reports on why stakeholder pensions
are failing to avert a crisis
A BIRMINGHAM MP has demanded that Chancellor Gordon Brown rethinks his stakeholder pensions
scheme - or face multi-million pound claims in a major mis-selling scam.