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Stakeholder Pensions
If you have five or more employees on your payroll for more than three months you may have to offer to provide your employees with a Stakeholder Pension.
Stakeholder Pensions are an attempt by the government to extend pensions to lower paid workers - and so, cynics claim, reduce their social security bill when such workers retire. Take up has been predictably low.
Stakeholder pensions are not as onerous as they sound - basically you have to offer your employees a qualifying scheme; they are not obliged to take the scheme up, but if they do, it does involve extra work in calculating and deducting contributions from their pay. This work can be carried out by a payroll agency and the qualifying pension providers also usually provide assistance.
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