| active money personal pension | Self Invested Personal Pension (SIPP) | Stakeholder Pension | |
|---|---|---|---|
| At a glance |
With this flexible pension you can stop, start and change payments when you like. You’re in control, with all your pension details available online. So you can monitor the performance of your investments, and change funds if you want. Pay in from £80 a month and get 20% tax relief from the government |
The choice is yours with a SIPP. Not only will you have a wealth of investment opportunities to choose from, you’ll also have more options at retirement. That includes the ability to continue to receive an income from your pension fund. Start saving from £240 a month, and get 20% tax relief from the government |
Stakeholder pensions offer a straightforward, low-cost way to start saving for retirement. Ideal if you want to leave all investment decisions to the professionals. Contribute from just £16 a month and get 20% tax relief from the government |
| Investment choice | Choose from 180 funds. To help with your decision-making, we’ve put five funds together to suit different attitudes to risk. Each offers a spread of investments and has been designed to maximise returns for a given level of risk. |
With a SIPP you can choose to invest in over 1500 funds. A wealth of other investment options are also available. |
We've organised a select number of funds into 'hands off' and 'hands on' options, so you can choose how involved you get with your investments. |
| Other investment options?* | You can only invest in pension funds. However, you can upgrade to a SIPP. |
You can choose to invest in pension funds and in a number of other options, such as stocks and shares and commercial property. |
You can only invest in pension funds. |
| Charges capped? | You pay for the services you use. We don’t charge a flat fee. |
You pay for the services you use. We don’t charge a flat fee. |
There’s an annual charge of 1% of the value of your funds. |
| Discounts |
Large fund discounts of at least 0.3% are available on funds worth over £50,000. |
Large fund discounts of at least 0.3% are available on funds worth over £50,000. |
Large fund discounts of at least 0.1% are available on funds worth over £25,000. |
| Upgradable** |
You can upgrade to a SIPP at any time. |
n/a |
You can transfer to a SIPP or Active money personal pension at any time. |
| Income Drawdown |
You can only buy an annuity. However, you can upgrade to a SIPP. |
SIPP is our only pension that allows you to take income directly from your pension pot or if you prefer you can take an annuity. |
You can only buy an annuity |
| Minimum payment (regular/yearly contribution) | £80 a month; £800 a year plus 20% tax relief from the government |
£80 a month; £800 a year for funds over £50,000 plus 20% tax relief from the government |
£16 a month plus 20% tax relief from the government. |
| Buy online/by phone | Online with phone support if you need it. |
By phone. |
By phone. |
* Other investment options
Selecting the right fund can be complicated so we strongly recommend you seek financial advice.
** Upgrading your pension
Want to upgrade your existing pension to a SIPP or AMPP or discuss your options? Contact us on 0845 272 8810 or speak to your financial adviser for more information.
The information provided is for explanation purposes only. Investments can rise and fall and you could get back less than you invested. Please remember, tax relief on pensions may change. Its value depends on your individual circumstances.
