Pension Scheme
By law any employer with five or more employees must offer a stakeholder pension scheme, which must be brought to the attention of all employees who must be given the chance to make an informed decision by seeking advice of an independent financial adviser. 

If you are a GP Practice. then  the NHS Pension scheme must be offered unless the employee opts out by completing SD502 form.  Suitable alternative occupation pension schemes can be offered. Existing clients of GP Practices can login to customer support  for more information on the NHS Pension scheme members.

Stakeholder pensions were made available from 6 April 2001, with the intention of increasing the number of people saving for retirement. They will be widely available from banks, insurance companies or building societies, amongst others.

The Government is keen to make access to pension schemes much easier. As a result, their new legislation will mean that businesses that do not already have a suitable pension arrangement in place will have to offer access to a Stakeholder pension scheme for their employees:

• who have worked for them for more than 3 months, and

• whose earnings are above the National Insurance lower earnings limit

Employers with 5 or more staff must now offer their employees access to a stakeholders pension scheme. You must formally choose the scheme from any commercial financial service pension company who have registered their stakeholder pension scheme with the Inland revenue and the Occupational Pensions Regulatory Authority (OPRA), from 8 October 2001.