Stakeholder
Pensions
What is a Stakeholder Pension
Plan ?
A Stakeholder Pension Plan is flexible,
portable and has low cost terms. It is payable from
age 50 and conforms to the Government CAT standards.
Contributions of a minimum of £20.00
per month can be paid and basic rate tax relief is granted
at source thus enhancing the value by 28.1%. Higher
rate tax relief may be available.
Should I join my employer's Stakeholder
scheme?
Virtually all employers have to have a
plan in force but most employers do not contribute or
provide any related benefit such as Group Life Assurance.
If an employer does not contribute this shows a lack
of interest in the scheme and you are recommended to
seek an individual plan. The only apparent disadvantage
of an individual scheme is the loss of an employers
payroll deduction facility so that you will have to
set up a Direct Debit Mandate for regular payments.
Who should effect a Stakeholder
Pension Plan ?
How much can be contributed ?
As with all tax savings schemes the rules
have to be complex however we have found that most people
are surprised by the amounts available.
How do I choose a suitable plan
?
As with all financial products independent
advice is essential please CLICK
HERE
