What does stakeholder pension scheme mean?
Definitions for stakeholder pension scheme
stake·hold·er pen·sion scheme
This dictionary definitions page includes all the possible meanings, example usage and translations of the word stakeholder pension scheme.
Wikipedia
Stakeholder pension scheme
Stakeholder pension schemes were introduced in the UK on 6 April 2001 as a consequence of the Welfare Reform and Pensions Act 1999. They were intended to encourage more long-term saving for retirement, particularly among those on low to moderate earnings. They are required to meet a number of conditions set out in legislation, including a cap on charges, low minimum contributions, and flexibility in relation to stopping and starting contributions. Employers with five or more employees are required to provide access to a stakeholder pension scheme for their employees unless they offer a suitable alternative pension scheme. The features of stakeholder pensions were intended to make them cheaper to sell than existing personal pensions and to provide a more transparent and attractive saving vehicle. Although many stakeholder pensions have been taken out, they have largely not been successful in encouraging lower earners to save more. The government announced in May 2006 that it proposed to introduce a new pension scheme called Personal Accounts, and later renamed NEST prior to its introduction.
Numerology
Chaldean Numerology
The numerical value of stakeholder pension scheme in Chaldean Numerology is: 1
Pythagorean Numerology
The numerical value of stakeholder pension scheme in Pythagorean Numerology is: 2
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"stakeholder pension scheme." Definitions.net. STANDS4 LLC, 2024. Web. 30 Apr. 2024. <https://www.definitions.net/definition/stakeholder+pension+scheme>.
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