What are Stakeholder Pensions?

Stakeholder Pensions are a new type of private pension.

They are simple, secure, low cost and highly flexible. They were introduced by the Government in April 2001 to make it easier for people to save more money for their own retirement.

The Government has set out strict criteria for Stakeholder Pensions that must be met by the pension providers.

For example, the charges and minimum contribution levels are subject to an upper ceiling that is lower than for many other types of pension. Equally anyone who contributes into a Stakeholder Pension will have total control over stopping, changing or re-starting their contributions without penalty.