Stakeholder Pension Scheme

A stakeholder pension is a simple and straightforward way to save for your retirement. It’s a special type of pension plan that must meet government requirements about low minimum payments and capped charges. You can claim tax relief and if you pay basic rate tax, we’ll do all the paperwork for you. The Stakeholder Pension Scheme offers government tax relief, stock market investing and the option to take tax-free cash when you retire.  

You can take your pension with you when you change jobs and your employer can make contributions as well. You can get access to your money from age 55 and with the recent pension changes, it’s even easier to use your pension savings in the way that suits your retirement. 

Stakeholder Pension Scheme

  • Receive tax relief on your pension savings
  • Simple and straightforward investment choices
  • Annual Management Charge not exceeding 1%
  • Flexible ways to pay to suit your circumstances
  • Your employer can make contributions too.

    This product is currently not available for new investment. 

The Stakeholder Pension Scheme may be right for you if you:

  • Want to benefit from government tax relief on your savings
  • Want a straightforward way to invest for the long term
  • Can make regular or ad hoc payments
  • Are employed, self-employed, unemployed or saving on behalf of a child or grandchild.

To find out more about the Stakeholder Pension Scheme please read the plan information shown here. It gives you all the detail you need to understand how the plan works.

Key Features
Guide to Investment Risk and Investment Funds
Terms and Conditions

Key Forms:

Nomination of Beneficiaries form
Fund Switch and Redirection form
Third Party Payment form
Member Payment form
Transfer in application form

In addition to managing your pension in line with the scheme rules and regulations laid down by the government, we have also appointed an independent governance committee whose task it is to act in the interest of all scheme members.

These people act like trustees to ensure that you receive value for money from the scheme. So they look at things like charges, administration, communication and the funds we manage. They can challenge how we run our pension schemes and if any scheme is not providing value for money, they can recommend remedial action.

The independent committee meets at least four times a year and is made up of the following members:

Chris MurrayChristopher Murray (Chair) - Director, Smith & Williamson Financial Services Limited

Professional qualifications:

  • Fellow of the Pensions Management Institute
  • Diploma of the Personal Finance Society

Mr Murray has extensive experience of advising companies on pension schemes and working with trustees, as well as acting in a trustee capacity on behalf of Smith & Williamson Trust Corporation Limited. He is also a partner of Smith & Williamson LLP. 

Naomi L'EstrangeNaomi L’Estrange - Director, 20-20 Trustee Services Limited

Professional qualifications:

  • Solicitor (current practising certificate)
  • Qualified Executive Coach
  • Certificate in Advanced Business Management from Ashridge

Ms L'Estrange has 20 years' experience as a pension lawyer and a director of the Pension Protection Fund. She advised the Institute of Actuaries and many individual pension schemes and was seconded to Government to advise on Pensions Act 2004. As the PPF's Director of Strategy and Policy, Ms L'Estrange has worked with various Government departments and the EU on matters of pension policy. She is a professional trustee to a number of pension schemes of all types.

Sarah FarrantSarah Farrant - Director, Sarah Farrant Consulting

Professional qualifications:

  • Fellow of the Institute of Actuaries

Ms Farrant has been a qualified actuary for over 25 years. She has been Scheme Actuary to many schemes, including a number of FTSE 100 and FTSE 250 companies and has enjoyed senior roles with national employee benefit consultancies and a ‘Big Four’ firm of Chartered Accountants.

Mark GarnettMark Garnett - Director, Advisory Investment Services Limited

Professional qualifications:

  • Associate of the Chartered Institute for Securities and Investment
  • Associate of the Chartered Insurance Institute

Mr Garnett provides investment management and advice for pension schemes and is former Partner of Smith & Williamson Investment Management LLP. He advises employers and boards of trustees, and regularly presents on the economy and investment markets.

Adam TookeyAdam Tookey - Head of Product Management, Link Fund Solutions

Mr Tookey is responsible for the development and on-going product management of all funds operated by Link Fund Solutions Limited, including those offered through the pension plan. He has more than 20 years asset management experience, working for a number of global firms.

The Independent Governance Committee welcomes views from members so for more information or to get in contact with the committee chairman, email Additionally, available for view are the committee's Terms of ReferenceConflicts of Interest Policy and Annual Report.


Jennifer continues saving into a pension during a career break

Jennifer left work a year ago to have her first child. She’s decided not to return to work just yet, but wants to continue saving into a pension. She sets up a stakeholder pension as it allows her to benefit from tax relief up to £3,600 a year even if she’s not working. And when she decides to return to work, she can choose to increase her payments as her earnings increase and decrease them if she has another career break. 

This example is for illustration only. It should not be taken as advice.

Find an adviser

A regulated financial adviser will help you decide which financial plans are right for your personal circumstances. They will also help you through the application process when you decide to purchase a plan. They may charge for their time.

Find a financial adviser

You can find an FCA authorised financial adviser at or by calling 0330 1000 755, or you can visit the YourMoneyAdviser website at and key in your location to find an adviser near to you.

Use Pension Wise

Pension Wise is a government service that offers people approaching retirement free, impartial guidance about how to make best use of their pension savings. 
030 0330 1001

Call us on 0345 603 0142 for more information.

Not sure? Find out about a different product

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    • Take up to 25% of your pension fund as tax-free cash
    • Choose what taxable income you need
    • Your pension fund remains invested
    • A medium to long-term investment
    • Choose where to invest from a range of portfolios
    • Pass on your remaining savings when you die
  • Cash Fund Drawdown
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    • Take up to 25% of your pension fund as tax-free cash
    • Choose what taxable cash withdrawals you need
    • Invests in the LF Cash Fund
    • Pass on your remaining savings when you die
  • Capped Drawdown Plan
    • Closed to new business
    • Taxable income
    • Your pension fund remains invested
    • A medium to long-term investment
    • Invests in a range of funds and portfolios
    • Pass on your remaining savings when you die
    • Existing investors call us on 0345 055 0606
  • Personal Pension Plan
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    • Make as many regular or ad-hoc payments as you like
    • Invest in a range of funds or choose a Lifestyle profile
    • Increase, decrease, stop and start your payments to suit your circumstances
    • Flexible ways to take your savings at retirement