Few join pension schemes
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Money News |
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Few join pension schemes
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The study, undertaken by the Department of Work and Pensions, claims that three-quarters of companies offering stakeholder pensions have yet to accrue any members.
However, a spokeswoman for the department said in relation to the limited uptake of stakeholder pensions: "The government always said it would take time to change people's savings habits.
"Getting pension schemes established that can be accessed through the workplace was a very important first step."
A possible explanation for the slow uptake is provided in another survey published today, conducted in conjunction by Tiscali.co.uk and the TUC, which shows that two-thirds of employees did not know their rights regarding stakeholder pensions.
Richard Ayers, editor of Tiscali.co.uk, told the Guardian: "Employers are responsible for giving information about stakeholder pensions to every employee who has been in the company more than three months.
"If nearly two-thirds don't know about it then it implies that many companies are not fulfilling their obligations."
Related News : Pensions |
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