View Full Version : Stakeholder pensions


Titian
02-10-2004, 12:20
Can anyone tell me the law regarding the stakeholder pensions.

I know that if a company has 5 employees or more they must make them available and contribute 3% towards it. ( some exceptions apply, but none in this circumstance)

Does anyone know anymore about this?

What if your company is a financial advice company (dealing with pensions) and you have not sought to do this? Does if have to be backdated? etc.

mikey
02-10-2004, 14:11
Not sure that they have to pay anything. My view of things is that they are legally obliged to make provision for you to get one.

Some stuff and links here (http://www.businesslink.gov.uk/bdotg/action/detail;jsessionid=Be2M30LjQbGGLhdrbsn8OijUyA34NSI4 AZZz32VJBlpUJIlB3OBo!-1855792751!1096726156122?r.l3=1074452901&r.l2=1073859224&r.l1=1073858808&r.s=sc&type=RESOURCES&itemId=1074457474)

Miss_smiley
02-10-2004, 18:56
The company has to provide employees with the details of their nominated stake holder pension company. If the employee decides to join, the company can forward the employees contributions on to the stake holder pension company straight out of the employees wages.

That is all the employer is obliged to do. They are not required to pay any contributions themselves. If an employee is going to receive a bonus, for example, they can choose to have this paid direct to their pension scheme, which saves on tax I believe.

All new employees must be given details of the employers nominated stake holder pension company when the commence employment.

:)