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    Professional Financial Planning is the process which aims to help you realise your ambitions - whatever they may be. As professional financial advisers we can help you make informed decisions about your financial future, short, medium and long term.Read More

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    When you retire you still need food and shelter as an absolute minimum, but of course you will want to maintain the lifestyle to which you have become accustomed, so unless you can guarantee a large inheritance or windfall, then you need to provide yourself with a secure income for the rest of your life.Read More

    Often, people save for a specific reason and it's usually the safest way to build up a pot of money. It’s less risky than investing, but it offers limited growth. The most you'll earn on the money you save is the interest added. Saving is perfect for people who don’t want to take any risks with their money, and most savings accounts have easy access or are for a fixed term.Read More

    All businesses are exposed to risks in their day-to-day operations. Without business insurance cover to provide protection against some of these risks, businesses would find it difficult to operate efficiently and profitably.Read More

    Taxation can be very complicated and the rules, reliefs and allowances often change, so it is worth obtaining a clear grasp of how these taxes work by discussing with a professional adviser the most efficient way to arrange your finances.Read More

    Equity release has to fit with your needs, circumstances and preferences, where the benefits need to outweigh the drawbacks and be more suitable than alternative methods of raising funds.Read More

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Related Topics
Home    Stakeholder
  • Annuities
  • Executive Pension Plan
  • National Employment Savings Trust (NEST)
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  • Retirement Planning
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Stakeholder

THE VALUE OF PENSIONS AND THE INCOME THEY PRODUCE CAN FALL AS WELL AS RISE. YOU MAY GET BACK LESS THAN YOU INVESTED.

TAX TREATMENT VARIES ACCORDING TO INDIVIDUAL CIRCUMSTANCES AND IS SUBJECT TO CHANGE.

Stakeholder Pension Schemes

A Stakeholder Pension (SHP) is a type of Personal Pension Plan designed to provide an optional lump sum and income in retirement. In common with a Personal Pension Plan, Stakeholder Pensions are available to any United Kingdom resident under the age of 75.

You, in conjunction with your adviser, choose the pension provider and make the arrangements for paying the contributions to the plan.

You can start a SHP even if you have a workplace pension or if you’re self-employed and don’t have a workplace pension. You don’t have to be working to take out a SHP and you can also provide a SHP for your spouse/partner or your child/children.

When you contribute to a SHP, your money is invested by the pension provider (usually an insurance company) to build up a fund/pension pot over a number of years.

A Stakeholder Pension incorporates a set of minimum standards established by the government, which include:

  • A capped charging structure which is a maximum of 1.5% per year for the first 10 years and 1% per year thereafter
  • The minimum contribution is £20 per month
  • You can pay in lump sums whenever you want
  • You can stop and start payments as you wish
  • You can switch to another scheme at any time without penalty
  • You do not need to retire to draw your stakeholder pension benefits. You can take benefits from age 55
  • At retirement, the option exists to take a quarter of the fund as a tax-free amount

The key point about SHPs, as with any other pension, is to start contributing as early as possible and keep making contributions for as long as possible. That way your pension pot has time to build up and the investment returns compound through reinvestment over many years. The result should be a significant sum of money to invest when you retire.

If you die before age 75 and you have not started to take benefits from your pension the funds will normally be passed to your spouse or other elected beneficiary free of inheritance tax. Other tax charges may apply depending on the circumstances.

It is possible to continue past age 75 without taking benefits. If you die after age 75 your pension pot can still be passed to a nominated beneficiary free of inheritance tax, however if paid as a lump sum, tax at the beneficiary's marginal rate will apply (2020/21). If it is paid as an income to your spouse or dependant there will be no initial tax charge, but any income paid would be subject to income tax.

PENSION ENQUIRY FORM

Your Address

Planning and Retirement

Employment

Existing Pension

Yes
No
Yes
No

Marketing Information

Sensitive Personal Data

We may need to collect sensitive personal data including information about your health, ethnic origin, or criminal prosecutions from third parties such as employers and credit reference agencies, fraud prevention agencies and other similar organisations in order to provide you with the services, for example where you require advice on annuity or protection products.

If you consent to us obtaining your sensitive personal data from third parties referred to above for the purpose of providing you with the services, and sharing it with third party providers to obtain quotes on your behalf, for example where we are providing you with annuity or protection advice as part of our services, please tick this box.

Submit your Information

From time to time, we would like to contact you with details about our services, products, business updates and events. If you consent to us contacting you for this purpose please tick to say how you would like us to contact you:

Email
Telephone
Post
Yes please, I'd like to hear about offers and services.
No thanks, I don't want to hear about offers and services.
Please tick this box to confirm you have read and understood our privacy policy.

THE VALUE OF PENSIONS AND THE INCOME THEY PRODUCE CAN FALL AS WELL AS RISE. YOU MAY GET BACK LESS THAN YOU INVESTED.

TAX TREATMENT VARIES ACCORDING TO INDIVIDUAL CIRCUMSTANCES AND IS SUBJECT TO CHANGE.

Stakeholder Pension Schemes

A Stakeholder Pension (SHP) is a type of Personal Pension Plan designed to provide an optional lump sum and income in retirement. In common with a Personal Pension Plan, Stakeholder Pensions are available to any United Kingdom resident under the age of 75.

You, in conjunction with your adviser, choose the pension provider and make the arrangements for paying the contributions to the plan.

You can start a SHP even if you have a workplace pension or if you’re self-employed and don’t have a workplace pension. You don’t have to be working to take out a SHP and you can also provide a SHP for your spouse/partner or your child/children.

When you contribute to a SHP, your money is invested by the pension provider (usually an insurance company) to build up a fund/pension pot over a number of years.

A Stakeholder Pension incorporates a set of minimum standards established by the government, which include:

  • A capped charging structure which is a maximum of 1.5% per year for the first 10 years and 1% per year thereafter
  • The minimum contribution is £20 per month
  • You can pay in lump sums whenever you want
  • You can stop and start payments as you wish
  • You can switch to another scheme at any time without penalty
  • You do not need to retire to draw your stakeholder pension benefits. You can take benefits from age 55
  • At retirement, the option exists to take a quarter of the fund as a tax-free amount

The key point about SHPs, as with any other pension, is to start contributing as early as possible and keep making contributions for as long as possible. That way your pension pot has time to build up and the investment returns compound through reinvestment over many years. The result should be a significant sum of money to invest when you retire.

If you die before age 75 and you have not started to take benefits from your pension the funds will normally be passed to your spouse or other elected beneficiary free of inheritance tax. Other tax charges may apply depending on the circumstances.

It is possible to continue past age 75 without taking benefits. If you die after age 75 your pension pot can still be passed to a nominated beneficiary free of inheritance tax, however if paid as a lump sum, tax at the beneficiary's marginal rate will apply (2020/21). If it is paid as an income to your spouse or dependant there will be no initial tax charge, but any income paid would be subject to income tax.

PENSION ENQUIRY FORM

Your Address

Planning and Retirement

Employment

Existing Pension

Yes
No
Yes
No

Marketing Information

Sensitive Personal Data

We may need to collect sensitive personal data including information about your health, ethnic origin, or criminal prosecutions from third parties such as employers and credit reference agencies, fraud prevention agencies and other similar organisations in order to provide you with the services, for example where you require advice on annuity or protection products.

If you consent to us obtaining your sensitive personal data from third parties referred to above for the purpose of providing you with the services, and sharing it with third party providers to obtain quotes on your behalf, for example where we are providing you with annuity or protection advice as part of our services, please tick this box.

Submit your Information

From time to time, we would like to contact you with details about our services, products, business updates and events. If you consent to us contacting you for this purpose please tick to say how you would like us to contact you:

Email
Telephone
Post
Yes please, I'd like to hear about offers and services.
No thanks, I don't want to hear about offers and services.
Please tick this box to confirm you have read and understood our privacy policy.

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Moneytree Financial Solutions Ltd
Suite 2 Sutton House
Ashville Point
Sutton Weaver
Cheshire
WA7 3FW
T: 01244 555077
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Moneytree Financial Solutions Ltd is registered in England and Wales, Company Number: 06749896. Registered Address:Suite 2a Sutton House, Ashville Point, Sutton Weaver, Cheshire, WA7 3FW.

Moneytree Financial Solutions Ltd is an appointed representative of Quilter Financial Limited which is authorised and regulated by the Financial Conduct Authority.

The guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at consumers based in the UK.

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