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.
Minimum Standards
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.
If you would like advice on any existing pension arrangement,
please give us a call on 0113 234 5528 or complete the online enquiry form and we will get back to
you to discuss your requirements.