Stakeholder pensions (for individuals)

As part of the Government initiative to encourage us to enhance our pension arrangements over and above that offered by the State, the low cost Stakeholder pension was introduced in April 1991.

You may already be contributing to a personal pension or company scheme. It is well worth contacting us to discuss your present arrangements just in case the Stakeholder option is a better one for you.

You may not be aware that it is possible to contribute to a Stakeholder pension on behalf of someone else. This means that parents and grandparents can consider paying into a Stakeholder pension for their children and/or grand children, thereby ensuring them a head start in their retirement planning. There is a tax advantage associated with doing this. The children, who will usually be non-tax payers, are still entitled to basic rate tax relief. This means that the true value of each contribution is increased, so that for every £78 contributed tax relief will increase its value to £100.

For more information on Stakeholder pensions, please view www.stakeholderpensions.gov.uk