The research of more than 1,000 SMEs revealed that only 76% of SMEs with 5 – 49 staff have told employees about investing in a stakeholder pension, even though businesses with five employees or more and which are not exempt from providing access to a stakeholder scheme were legally obliged to do so by 5th October 2001.
Amongst those SMEs with under five employees, 27% of employers had told their staff about stakeholder pension schemes.
The findings also show that employee interest in stakeholder pensions continues to be low. Amongst those SMEs that had informed their staff, 59% said that none of their employees had taken up the opportunity to invest.
Almost half (48%) of employers who have informed employees have had no reaction from their staff.
