When consider a pension, stakeholder pensions are a simple, low cost, tax efficient option to save money towards your retirement. The investment you make into your stakeholder pension can start from as little as £20 per month, although you would need to check the maximum you may be allowed to pay into your pension and the amount of tax relief you could receive on your payments. The flexibility within a stakeholder pension allows you to stop, start, increase or decrease your regular contributions. You can also pay in single contributions at any point in time without the incursion of a penalty. You can usually choose from a wide range of investment funds with the final aim of the stakeholder pension to provide you with an income when you retire.

Are there different types of Stakeholder Pensions?

Stakeholder Pensions are offered by many different companies. These companies also offer different choices of funds to invest your money into, ranging from stock & shares, cash or property. You can transfer existing pension plans into a Stakeholder Pension, however there are several considerations you would need to make first:-

1. What are the benefits of changing your existing pension plan into a stakeholder pension plan?
2. Are there any penalties in moving your existing plan away from your current Pension provider?
3. What are the costs you might incur by transferring your current pension scheme?

So why should I consider Independent Financial Advice for a pension, stakeholder or other types of pension?

We are a whole of market Independent Financial Adviser firm, which means we have access to many pension scheme providers and pension scheme funds. We will establish your goals regarding retirement; including how much you would like to retire with, when you would like to retire, and how much you currently have towards this retirement aim. Once we have these facts to hand we also look at your current financial situation and discuss how much you may have available to contribute towards a pension, stakeholder or otherwise. Finally we will aim to establish your risk profile and look to recommend pension funds that match the amount of risk you are willing to take with your money.
According to the AIFA (the association of financial advisers) there has been an increase (spanning the last five years) in the trust people have with independent financial advice.

So how do I contact you to discuss my requirements for my stakeholder pension?

If it is your first steps towards a pension then we have tried to make it as easy as possible for you to get in touch, therefore you can either contact us on 01274 516900, alternatively you can complete this short enquiry form below with brief details of your enquiry and your contact details. Also, if you already have a pension plan in place, but you want to consider if it is the best investment for you, then we would ask you to contact your current provider and ask for a Current Valuation, a Transfer Value and a pension projection for your current retirement date – this then allows us to compare possible alternatives to see whether it is best to move your pension or indeed to leave the plan with your current provider. We look forward to speaking to you soon.

For more information on stakeholder pension information download our information sheet here