Stakeholder Pensions, the Governments low charging pension schemes launched in April 2001(see the Stakeholder Cafe.com), has proved a complete flop according the Association of British Insurers. Although, 350,000 employers now have schemes in place, more than 80% of the schemes have had no employees join them.
Our view
This is a shame and goes back yet again to education. Many people are still not aware that they could significantly improve their pension benefits by moving to these lower charged pension products. You can either take one out yourself or if your employer has a scheme, consider it.
Visit our site entirely dedicated to low charging pensions - Stakeholder Cafe.com.
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