Stakeholder pensions "a success", DWP says

Stakeholder, the government's brain child, has succeeded in meeting its "target group", says the Department for Work and Pensions, as two-thirds of people taking up stakeholder pensions are low-income earners. Statistics published today by the Inland Revenue for tax year 2001/2002 reveal that 63% of total sales went to those earning less than £20,000 a year. In addition, almost one in three buying a stakeholder pension did not have access to a company pension scheme. The figures show that the majority of buyers were under the age of 45, with 30% being bought by women. ...