Pensions

As you may be aware the Government intends to dramatically increase the number of people in the UK who have a pension. Their main tool to achieve this was the introduction of the Stakeholder Pension in 2001.

Some features of the Stakeholder Pensions are:

Charges must not exceed 1% per annum.

Schemes must be fully flexible.

Transfers between schemes must be free of charge.

Investment funds must be carefully and conservatively managed.
All contractors and employees who have worked continually for more than three months must be given access to a Stakeholder Pension. Agencies are required to nominate a Stakeholder Pension and arrange presentations to contractors if requested. They must also offer to make payroll deductions and pay contributions on behalf of contractors if requires, however weekly-paid contractors may choose to set up their own direct debit since contributions will be paid monthly.

Davis Green has nominated the HSBC Bank Plc. as its chosen Stakeholder Pension provider. Information will be supplied to you when you start.

Davis Green is not an independent Financial Advisor (IFA) and cannot recommend any funds as suitable for investment of your contributions. Our nomination of the above scheme is in order to make one alternative available to you but the company does not guarantee the performance of this fund. In order to make a well-informed choice, we strongly recommend that you consult a qualified pensions advisor.

Davis Green will not benefit financially from this arrangement and we will do everything we can to support you in beginning a Stakeholder Pension should you choose to do so.