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Stakeholder Pension

Stakeholder pensions date back to 2001. Back then companies with more than five employees had to offer some sort of pension scheme. Employers didn�t have to pay into them but stakeholder pensions were easy to set up so became a popular choice. But, in the recent pension shake-up, auto-enrolment schemes replaced stakeholder pensions schemes from 2012 because employers have to pay into them. The main things about these pensions were the minimum standards set by the government. Mainly: 1) Low minimum contributions If you were setting up a personal pension from scratch you were often asked to contribute �200 or more. Stakeholder pensions would take small contributions from �20 a month. This made them ideal for low and middle income earners. 2) Set management charges The management fees for stakeholder pensions are set at 1% -1.5% per annum for the first 10 years But, if you joined one of these schemes, you should consider� Switching your stakeholder pension When we review pensions we typically look for the lowest management fees and the best choice of fund/s. While 1.5% sounds low, in about 7/10 cases we can reduce management fees even lower (0.74% is our lowest charge available). If your contributions are small, it�s even more important that as much of your contribution is going into your pension pot. Not being eaten up with management feeds. We also find a lot of people with stakeholder pensions haven�t reviewed them since they took them out. For this reason, they may not necessarily be in the right fund for them. We�re impartial. So when we review your pension funds we can choose from all the deals available across the industry. Once we�ve reviewed your pension, and your needs, we give completely impartial FCA regulated advice. If you�ve got a stakeholder pension scheme � or want to track one down from a previous job � then give us a call on 01772977162. It�s completely no obligation. And there�s no obligation to change if you�re happy with what you�ve got.
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