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Pensions glossary

Stakeholder Pension

A stakeholder pension is a low-cost pension, designed for people that cannot join company pension schemes.

A stakeholder pension can be bought from a financial services company, like a bank, insurance firm or building society.

Stakeholder pensions must meet strict government standards, to ensure the product is value for money and flexible. Management charges must be no higher than the official cap - currently 1.5 per cent for the first ten years, then one per cent onwards; and they must accept contributions of as low as £20.

Stakeholder pensions also cannot charge for transferring funds in or out the scheme, and must be run for their members.


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