Stakeholder pension

To apply call 0845 272 8810

Save from just £20 a month

Why choose a stakeholder pension?

Stakeholder pensions were introduced to encourage everyone to save for their future. A Stakeholder pension is the name given to a personal pension that meets the stakeholder criteria set out by the government.  Standard Life’s Stakeholder Pension aims to grow and change with you.

  • Save from just £16 a month with basic rate tax relief on top – and increase your payments whenever you want
  • Low charges – 1% of your fund value each year, which is lower than the 1.5% government limit for stakeholder charges
  • Straightforward investment choice – we’ve put together a carefully selected range of investment options. Note that you can only invest in 12 of our funds at any one time
  • Take it with you - if you start a new job you can carry on paying into your plan, or transfer it to your new employer's scheme at no extra charge
  • Flexible - increase payments, take a break for a while or switch funds. You can only invest in 12 of our funds at any one time. Stopping payments could mean you receive a lower income in retirement than if you had continued paying into your plan.

As with any investment, the value of your fund can go up or down and may be worth less than what was paid in.


At retirement options

  • The option to normally take up to 25% of your pension pot as a tax-free lump sum and use the rest to buy a guaranteed income for the rest of your life, known as an annuity. This is a taxable income
  • This annuity can be built to suit your individual needs such as providing an income for a partner or how often you want to receive it. This may affect the amount you would receive

Looking for more?

  • Stakeholder pensions are designed to be straightforward – so may not be suitable for everyone

Valuable tax relief

  • If you’re a basic-rate taxpayer, the government gives you 20% tax relief on your pension payments (within limits)
  • The good news is that you don't have to do anything - we'll claim the tax relief for you and automatically add it to your plan. That's definitely something worth having 

How your payments are boosted by basic rate tax relief
You invest Tax relief adds Your pension gets
£100 £25 £125
£200 £50 £250
£300 £75 £375

 

  • If you're a higher or additional-rate taxpayer, you may qualify for extra tax relief. If this is the case, you'll need to claim the extra relief through your tax return.

HM Revenue & Customs Limits

  • Personal payments into pensions only attract tax relief if they are within 100% of relevant UK earnings for the tax year concerned (or £3,600 if greater). Tax charges may apply if you exceed the Annual allowance. Further information regarding the Annual allowance is available in the Standard Life Stakeholder pension Key Features (PDF, 205kb).

Laws and tax rules may change in the future. The information here is based on our understanding in September 2012. Your personal circumstances also have an impact on tax treatment.

As with any investment the value of your fund can go up or down and may be worth less than what was paid in.

To apply call 0845 272 8810

To apply call 0845 272 8810

Risks and limitations

  • You cannot normally access your money until age 55
  • Transferring may not be suitable for everyone. If you’re transferring benefits from another scheme, there is no guarantee that what you’ll get back from your plan will be higher. You may be also giving up rights in the other pensions scheme that you’ll not have with your plan
  • As with any investment the value of your fund can go up or down and may be worth less than what was paid in
  • You cannot cash in the pension plan at any time

For a full list of the risks and commitments please see the Standard Life Stakeholder pension Key Features (PDF, 205kb).

To apply call 0845 272 8810

To apply call 0845 272 8810

Eligibility

  • The minimum payment is £16 a month, which is topped up to £20 with basic rate tax relief
  • You must be under age 75
  • You must be a UK resident

To apply call 0845 272 8810

To apply call 0845 272 8810

Your investment choices

  • We’ve put together a carefully selected range of around 30 investment funds and 5 lifestyle options.
  • You can only invest in 12 of our funds at any one time. If you choose to invest in a lifestyle profile, you cannot combine this with any other fund or with any other lifestyle profile.
  • The returns on your investment will vary on several different factors including how long you're investing for, your fund choice, the performance of the funds you choose, how much you pay in and our charges
  • As with any investment the value of your fund can go up or down and may be worth less than what was paid in
  • Selecting the right fund can be complicated so you may wish to seek financial advice. You can call Standard Life Direct on 0845 272 8810 (call charges will vary) or speak to your financial adviser, there may be a cost for this

Standard Life Direct only advise on, and sell products from subsidiaries of Standard Life Plc and some external providers

To apply call 0845 272 8810

To apply call 0845 272 8810

Charges

There’s an annual charge of 1% of the value of your funds. So if your fund is valued at £7,500 throughout the year, we will take a charge of £75 that year. This charge is also less than the 1.5% cap specified by the government.

The bigger your fund, the lower the charge

If your fund is over £25,000, we reduce the effect of the charge – by adding extra units to your fund each month. This works out at 0.1% of your fund over the year. If your fund’s over £50,000, we’ll add extra units to the value of 0.2% each year

Charges are regularly reviewed and may be increased to reflect increases in overall costs and/or changes in the assumptions made. However, as the Government has set a maximum charge that can apply to Stakeholder pensions (currently 1.5% each year for the first 10 years and 1% each year after that), the charges on your plan cannot exceed these limits. These Government limits could change in the future.

FAQs

What happens if I lose my job or take a career break?

Need some help? Call us on 0845 272 8810

Monday to Thursday 09:00 - 19:00

Friday 09:00 - 18:00

Saturday 10:00 - 13:00

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