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 marginal rate
- A money purchase scheme
- Minimum contribution of not more than £20
- Maximum tax relievable contribution limit of up to £3,600 pa gross (without evidence of earnings) or 100% of earnings. (subject to the Annual allowance, currently £50,000)
- A single annual management charge of not more than 1.5% of the plan value, taken from the fund/s for the first 10 years, then 1% thereafter. There are no up front charges.
- You are free to (without charge):
- 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 you seek independent financial advice.