UK - Take-up of stakeholder pensions has stalled and they are failing to make a significant dent in the savings gap, the Association of British Insurers says.
Its report – Stakeholder pensions: closing the pensions gap – shows that over 90% of employer designated schemes have no members and are empty boxes.
ABI director general Mary Francis said: “Despite an encouraging start, our report shows that stakeholder pensions have stalled. Now, more than ever, we need the government to encourage more people to save for the future.”
But the report disclosed that the average monthly contribution into stakeholder schemes had risen from £81 to £130.
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