Stakeholder summary
If you just want a quick overview of what a stakeholder pension plan is, look no further!
- Tax relief on contributions at your highest marginal rate
- A money purchase scheme
- Minimum contribution of not more than £20
- Permissable contribution limit of up to £3,600 pa gross (without evidence of earnings) or 100% of earnings. (subject to the Annual and Lifetime allowance)
- A single annual management charge of not more than 1.5% of the plan value, taken from the fund/s. There are no up front charges.
- You are free (no charges or penalties) to:
- Stop, increase, decrease or restart your pension contributions at any time
- Transfer your money to another stakeholder scheme.
- All plans will have a default investment choice, this is designed to help make purchasing a Stakeholder pension plan easier, but it doesn't guarantee the default fund will necessarily be the right one for you, we recommend advice be sought.
The value of an investment and the income from it can go down as well as up.
See also : Stakeholder - What you get and when
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