Personal Stakeholder Pensions
For Employers looking to start a Group Stakeholder Pension Scheme - find out more HERE
Individual Personal Stakeholder Pension Plans
Stakeholder pensions can be offered by employers or you can start one yourself.
If your company offers a stakeholder pension, the employer chooses the pension provider. They may make contributions to the stakeholder scheme. You can make contributions from your wages.
Your employer sends the contributions to the pension provider. The pension provider claims tax relief at the basic rate and adds it to your fund. If you are a higher rate taxpayer, you will need to claim the additional rebate through your tax return.
If your employer does not offer any pension scheme, you are self employed, or even not working, we can give you the relevant advice to see if a stakeholder pension might be suitable for you.
If you would like an indication of how much your pension contributions might give you in retirement, have a look at the FSA Pensions Calculator
Advantages of a Stakeholder Pension Plan
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It’s
flexible, you can change your contributions or even take a payment holiday without incurring extra charges.
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You can leave at any time without exit penalties.
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You
can take it with you if you change job.
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Low
annual management charges.
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Disadvantages
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Limited
range of funds to invest in and the pension company controls that choice.
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No
ongoing adviser service included in the annual management charge.
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