Small Biz needs help chossing a stakeholder pension provider

looneyleo · 3 July 2006 at 10:23AM

Our small (but rapidly growing) Ltd company has just taken on it's 5th employee and I am conscious that I need to set up a stake holder pension for them to access. Have been on the Government Pension Regulator website which gives a list of the forty or so providers...but which one do I chose? How do I chose? I think it's very unlikely that any employee will join up (all young and not much disposable income - pensions probably last priority!) but none the less, I would like to pick a good provider.

Any advice would be appreciated...

looneyleo

dunstonh · 3 July 2006 at 11:32AM

Do what most firms do. Allocate a provider to comply with your requirements but as you arent paying anything into the pension, tell your employees that its best if they pick their own provider if they want a pension.

The definition of good provider would depend on a range of things. ie. online submission of employees details, integration with your payroll as well as fund options and charges.

To be honest, as a zero contribution from the company is the case, I wouldnt waste your time at this stage. Just pick a provider and be done with it. In the unlikely event you ever do get an employee that wants you to deduct from their payslip, you can always do it then. Plus in 2012, its all changing anyway. Although this is something you will need to keep an eye on as there may be benefits to sorting out and making employer contributions before those rules come in.

looneyleo · 3 July 2006 at 1:20PM

Thanks Dunstonh. Wont make heavy weather of it then. Will just pick one of the big boys and get on with the rest of the in tray!

Small Biz needs help chossing a stakeholder pension provider

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