Stakeholder Pensions Guide

Scottish Life Stakeholder Pension

Stakeholder Pension Providers

Britannic Assurance

1 Wythall Green Way
Wythall
Birmingham
B47 6WG
Tel: 0845 305 5559
Website: www.britannic.co.uk/stakeholder
Registered: Great Britain and Northern Ireland
Membership: non-restricted

We would like to thank Britannic Stakeholder Pension Scheme for kindly supplying is4profit with the following article;

STAKEHOLDER PENSIONS: MORE AT STAKE THAN A HEFTY FINE

Britannic’s stakeholder pension is designed to place the least burden possible on the employer. With 65 corporate consultants and a team of financial advisers based across the UK, Britannic is in an excellent position to offer employers free one-to-one advice on stakeholder pensions requirements and ongoing support to guide them through what many perceive to be ‘the stakeholder maze’. To help introduce stakeholder pensions to employees, Britannic will offer a full service undertaking presentations on a one-to-one or group basis to staff, both in or out of working hours.

Hassle free solutions

The enrolment period for stakeholder pensions has already started and eligible companies are obliged by law to provide access to a stakeholder pension to it’s employees by 8th October 2001 – failure to offer one may incur a maximum fine of £50,000. In general, if a company employs five or more people and does not offer an acceptable company pension, there is an obligation to offer a stakeholder pension to those employees who earn more than the lower earnings threshold (currently £67 per week). But despite the fact that the impending legislation has put stakeholder pensions on the agenda for many companies – many employers are concerned that the task of setting up a stakeholder pension will be time consuming, complicated and involve a mountain of paperwork.

Straightforward and jargon-free

Commenting on Britannic’s service led proposition, Bill Guinness, Business Development Manager at Britannic says:

“We are only too aware that many companies simply don’t have the resources available to deal with massive amounts of administration. So in order to place the least possible burden on the employer, Britannic offer jargon-free information, advice and a stakeholder pension that is easy to implement.”

Having championed the principle of home collection, Britannic has forged strong links with industrial and commercial workforces throughout the UK – and is well known and trusted by many employees. Bill continues:

“With such strong links in the local community, Britannic is in an excellent position to offer advice and ongoing support at a local level.”

Staking a claim

Since the enrolment period for stakeholder pensions started, more and more companies are taking advantage of Britannic’s proposition and already, over 1,700 employers have enroled. To find out more about how Britannic can help you meet your legal requirements, or to arrange a consultation with a Britannic corporate consultant, please telephone 0845 30 55 559 or visit the Britannic stakeholder website on www.stakeholder.britannic.co.uk. Calls may be monitored or recorded for your protection.

The Key Dates

1st October 2000 Employer enrolment period started

6th April 2001 Employee enrolment begins

8th October 2001 Employer deadline for enrolment – failure to designate an approved stakeholder pension by this date could result in financial penalties of up to £50,000.

The information contained in this article is based upon Britannic’s understanding of current stakeholder pensions legislation, which may be subject to change (January 2001).

Britannic Assurance plc is regulated by the Personal Investment Authority and is a member company of the Britannic marketing group, which only advises on and sells its own life assurance, pensions, unit trust and ISA products.

Britannic Assurance plc was established in 1866 and is a member of the Association of British Insurers and the Insurance Ombudsman Bureau

Stakeholder Pension Guide Copyright © is4profit Ltd 2000-2008
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