Stakeholder Pensions are simply Personal Pension arrangements which guarantee to meet minimum standards, as introduced by the Government in 2001.
They benefit from the same tax advantages as all registered pension schemes but in order to acquire Stakeholder status the scheme must meet minimum standards and be registered with The Pensions Regulator.
Minimum Standards
The minimum standards are:
- A simple transparent charging structure limited to 1.5% per annum of the fund value for the first ten years and 1% thereafter
- A minimum contribution of no more than £20
- You can stop, start and vary contributions without penalty
- There must be no additional charges for transfers in or out of stakeholder schemes
- Each stakeholder scheme has to offer a clear default investment choice
We can help you determine the most suitable method of saving for your retirement, and if a Stakeholder plan is most relevant to you.