Stakeholder Pensions

Work and Pensions written question – answered on 6th November 2001.

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Photo of Steve Webb Steve Webb Shadow Secretary of State for Work and Pensions

To ask the Secretary of State for Work and Pensions if he will estimate the total advertising costs for promoting the stakeholder pension scheme.

Photo of Ian McCartney Ian McCartney Minister for pensions, Department for Work and Pensions

We are not specifically advertising stakeholder pensions. Stakeholder information is included as part of the wider pensions education campaign. This campaign seeks to promote information about the full range of pension options available, including stakeholder pensions, and cost £6.5 million in 2000–01. This included development of the new campaign, press, cinema and TV advertising, research and evaluation, the costs of running the pensions information line, website development, printing leaflets and other campaign materials.

The Department has also written to employers with five or more employees with information explaining what stakeholder pensions are; whether those employers are affected by the new rules on providing access to a stakeholder pension scheme for their employees; and if so, what they need to do.

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