DiscountUK Pensions Stakeholder links
- Stakeholder pensions are simple, low-cost 'personal' pensions designed to encourage more people to provide for their own retirement. Available at a discount.
- Available from April 2001 - adhering to set minimum terms.
- Charges will be lower than many current personal pensions
- No start-up charges, only a 1% per annum maximum charge.
- No penalties on starting and stopping contributions.
- No additional charges for transfers to and from other schemes.
- The minimum contribution to stakeholder is £20.
- Individuals can contribute up to at least £3,600 p.a. into a Stakeholder scheme, whether or not they have any earnings.
- Contributions above £3,600 p.a. can be made based on age and earnings.
- Up to 25% of the fund at retirement is available as a tax free cash sum.
- Retirement fund used to provide a lifetime guaranteed income.