Stakeholder pension plan

Save for your future with a little help from the taxman. Provided by Halifax Life Limited.

This product is no longer available to new investment as of 24th June, 2010.

Overview
Key
features
Key
documents

Overview

Our Stakeholder Pension Plan allows you to build up a sum of money in a tax-efficient way for you to use later in life. Currently you can take benefits between the ages of 55 and 75.

You don’t have to be in retirement to start taking your benefits and when you do you can take up to 25% as a tax-free cash lump sum although this will reduce your monthly pension benefit.

The main benefit is for every £80 you put in the UK Government will add £20 (up to certain limits) and currently, if you’re a higher rate tax payer – you will benefit from even more tax relief, at an extra 20% that you can claim back through your tax return. Please remember, tax rules may change in the future.

Key features

Provides an income with the option to currently take up to 25% as a tax-free cash lump sum (or 25% of lifetime allowance – whichever is lower), although this will reduce your final fund value
No minimum contribution
Choice of a wide range of pension funds
Flexibility to switch to lower risk investments when approaching the time you wish to take your benefit
No initial or exit charges and a competitive yearly management charge, reducing after 10 years.
No penalty charge for transferring your pension to or from another provider
A Stakeholder Pension Plan is a stock market-based investment. While you enjoy the potential for good returns, you may get back less than you originally invested.
Flexible - Stop and start contributions whenever you like
Accidental death benefit during the first five years on all plans started on or after 1 July 2009

Key documents

Before making an application you should read the following important documents to ensure you fully understand the product choice you are making.

Key Features of the Stakeholder Pension Plan (PDF New Window)

Plan Conditions of the Stakeholder Pension Plan (PDF New Window)

www.moneymadeclear.fsa.gov.uk/trees

To view PDF documents you will need the latest version of Adobe Acrobat reader.

To read the PDF document with a screen reader please link to the Access Adobe website.