Pension Types
Expert Advice
Independent Financial Advisers have access to the whole pensions market, they
have no links or ties to any one particular product provider and
will work for you to find the best financial product that meets your
needs.
http://www.moneymadeclear.org.uk
Stakeholder Pension Schemes
A stakeholder pension scheme is a type of personal pension plan. In other words,
it is a money purchase arrangement designed to provide a lump sum and
income in retirement. Like a personal pension plan, it is available
to any UK resident under the age of 75 and can be bought from insurance
companies, high street banks, investment firms and some retailers.
A stakeholder pension scheme has been designed to incorporate a set
of minimum standards laid down by the Government. These include:
-
a charging structure capped at 1.5% of the fund
each year for the first 10 years and 1% a year thereafter;
-
no penalties on increasing, decreasing, stopping and restarting contributions;
-
no penalties on transferring the fund to another pension arrangement; and
-
a minimum contribution of £20
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