( more) - A low cost, flexible type of pension. These meet strict government guidelines, on access, charges and terms.
The name given to the new personal pension, introduced by the Government in April 2001. These are low cost contracts permitting contributions of up to £3,600 pa without the need for earnings. Those who do earn can pay the same amount as presently permitted under personal pension plans if higher. Certain individuals in existing employer's schemes will also be allowed to contribute at the same time into these plans. back
A simple, flexible and low cost pension. The low charges and product simplicity should make retirement planning more attractive and easier for many people. Individuals will normally be able to take the pension benefits built up from a Stakeholder Pension in addition to State Pension and other pension benefits.