Stakeholder Pension Plan

Planning for the future

What is it?

Stakeholder pension plans are low cost pension saving plans that can be set up easily - even by people who don't have an income. Although it's the most straightforward pension product available, it still provides a good selection of our investment funds.

The Government introduced stakeholder pensions in 2001 and all plans must meet Government's specific criteria. Charges are capped at 1.5%, reducing to 1% at year 10. The plan can be started with a contribution of £20 (gross) and there must be a default investment fund available.

Stakeholder is part of a range of products that lets you tailor pension solutions to suit your clients - whatever they need. It's not suitable for everyone, and is at the more limited advice end of the market.

Who’s it suitable for?

• Any UK resident who wants easy access to a pension plan, including those who are employed, self-employed or unemployed.
• People who are earning or not earning a regular income.
• Children under the age of 16.

Product features

To make sure this product is as simple as possible:

• every client gets a decision tree to help them make an informed decision
• there aren't any penalties for stopping contributions, transferring the plan or taking benefits early
• the Government caps the charges

Please remember, by stopping contributions or taking benefits early, your client’s pension fund will reduce in value.

Next steps

Literature

Visit our literature library to download or order application forms, guides and other information.

Quotes

If you want a new business quote please contact us.

Existing Stakeholder Pension Plan clients

If your client already has a Stakeholder Pension Plan with us, visit our online services. Here you can:

• view plan information and details
• get current values and transfer values
• view transaction lists
• get projected maturity values
• switch funds
• change client details