Stakeholder Pensions were introduced with effect from 6 April 2001.
They are subject to the same tax regime 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.
The minimum standards are:
- A simple transparent charging structure limited to 1.5 % of the fund value for the first 10 years and 1% thereafter.
- A minimum contribution of no more than £20.
- Members 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.
How can we help?
If you would like advice on any existing pension arrangement, please give us a call on 01423 223 640 or complete the online enquiry form and we will give you a call to discuss your requirements.