UK: BUSINESSES NEED NON-DISRUPTIVE STAKEHOLDER DEALS
Article Abstract:
A NOP Business survey, commissioned by the Abbey National, questioned 201 small UK businesses and found that over half put a non-disruptive service as a top priority for them to set up a stakeholder scheme for their companies, above the importance of fund performance. As many as 52% had put stakeholder on hold and not yet designated a provider, even though by 8 October all businesses employing more than five people, with no current pension scheme, must provide stakeholder access or a fine of up to GBu50,000 is payable. The Federation of Small Businesses' head of parliamentary affairs, Stephen Alambritis, said that it did not benefit anyone to impose such a hefty fine and Steve Conley, a pensions manager for Abbey National said that as businesses are looking for providers who will organise a stakeholder scheme with as little disruption as possible, Abbey National has established an online service to help employers save time.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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UK: STUDY SHOWS FIRMS HAVE NO PLANS FOR STAKEHOLDER
Article Abstract:
A study of pension managers from FTSE 250 companies, by Punter Southall, the pensions consultancy, has found that 62% of them do not plan to set up a stakeholder pension scheme, with many being misinformed about which employees would be eligible. Some 32% planned to set up a stakeholder scheme, 10% planned to offer stakeholder to their contractors, while only 23% were going to offer it to temporary staff. Steve Leake, head of Punter Southall, said it was alarming that such a large number of big businesses were unaware, or chose to ignore, the basic legal commitments which the stakeholder regulations would impose on them, and that they needed to seek advice immediately. Stewart Richie, director of pensions development for Scottish Equitable, said that the issue was whether companies not setting up stakeholders would extend existing pensions to cover everyone.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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Big stores poised fore large slice of pension market
Article Abstract:
An ability to compete on low margins has been cited as a key factor why UK supermarkets appeared ideally positioned to compete in the pensions arena. Research by market analyst, Datamonitor, noted that there is capacity for a low margin product climate to be cultivated, with the proposed stakeholder pensions in particular providing opportunities not to mention pitfalls. Datamonitor believes that the supermarket sector has a considerable lead over the financial services market thanks to the fact that over the previous 30 years, it has been undergoing consolidation. Datamonitor notes too that the likes of Sainsbury have enjoyed success in the retail deposit arena, with customers embracing established brands.
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UK: Supermarkets appeared ideally positioned to compete in the pensions arena according to research by mkt analyst Datamonitor
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 1998
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