stakeholder advice needed!!

redone_3

I have just found out (after living in the dark ages) that my employer , who is a financial adviser no less, should have offered me and my collegues a stakeholder pension.

We are not exempt and I have told him on numerous occasions that I would like a pension. To add insult to injury. He was the person who set up my husbands company stakeholder so knows the law on this as he makes a buisiness out of it!

My question now is, Does he have to pay back pay into a scheme for us all, what does he have to do now to correct this???

isasmurf

All employers with 5 or more employees must provide access to a Stakeholder Pension scheme to their staff, subject to certain exemptions. I'm not sure whether they have to physically offer you a Stakeholder pension, or just have to have one in place should you request one.

If, as you say, your employer has not provided access to a pension scheme when you have asked, then you could complain to the OPRA (Occupational Pension Regulatory Authority) who are responsible for making sure employers offer Stakeholder Pension schemes to their staff. They did fine one company last year when an employee complained to them their employer did not provide access to a Stakeholder Pension scheme, although they usually only fine companies as a very last resort.

redone_3

Thank you for the advice smurf. I don't really want to go about it harshly but did also wonder if the contributions I have lost would have to be made up. Or would I have to complain to get the back payments?

Not sure if I am making myself clear as I am confused myself

dunstonh

Its five employees who pay National Insurance and does not include any directors or Partners.

Also, he doesnt have to pay into it or have one set up. If he meets the criteria, he has to be able to allow you to pay into a stakeholder via the payslip if you want to pay that way.

No free money involved i'm afraid.