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11/09/2000
BECTU ANNOUNCE STAKEHOLDER SCHEME
BECTU is to become one of the first UK trade unions to establish a stakeholder pension scheme.
The Union believes that their members must have access to a quality scheme that meets the range of their needs. The new BECTU scheme will be particularly attractive to freelancers as well as employees and the self-employed.
Stakeholder pensions are being launched by the UK government in April 2001, and are intended to give individuals access to simple and flexible pensions. After next April employers will have to ensure that all employees who are not in an occupational pension scheme have access to a stakeholder scheme.
The scheme resulted from the unions’ appointment of a pension specialist to research the market and subsequent appointment of CGU as the stakeholder pension provider.
Stakeholder pensions will not be fully available until next April, however further details will be provided in October to enable employers to plan how they will comply with the new legislation.
The Union believes that their members must have access to a quality scheme that meets the range of their needs. The new BECTU scheme will be particularly attractive to freelancers as well as employees and the self-employed.
Stakeholder pensions are being launched by the UK government in April 2001, and are intended to give individuals access to simple and flexible pensions. After next April employers will have to ensure that all employees who are not in an occupational pension scheme have access to a stakeholder scheme.
The scheme resulted from the unions’ appointment of a pension specialist to research the market and subsequent appointment of CGU as the stakeholder pension provider.
Stakeholder pensions will not be fully available until next April, however further details will be provided in October to enable employers to plan how they will comply with the new legislation.
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