Stakeholder Pension

What are the benefits?

• Tax relief on your payments
• Affordable - save from just £20
• The flexibility to change, stop and start payments at any time
• Low charges
• Your pension can move when you do
• We'll keep you up-to-date with how your fund is performing

What are the risks?

• The value of the fund can go down as well as up
• What you get back is not guaranteed and maybe less than the amount invested
• You cannot take benefits until age 50 (Age 55 from April 2010)
• Tax rules may change in the future.

Where is your money invested?

We invest the full amount of your payments using our Balanced Managed Lifestyle Strategy. Up until five years before your retirement all of your fund will be invested in the Balanced Managed Fund, to increase your potential for growth. In the five years before retirement we will gradually switch the money you have in the Balanced Managed Fund into the Retirement Protection Fund and Deposit Fund. Moving to these lower risk funds gives increasing protection against falls in the investment markets.

Fund description

The fund aims to provide a good return, through a combination of capital growth and investment income. The mix of investments gives the possibility of high returns from company shares, but with the safety of spreading the risk over a wide range of assets.

Fund type

It invests in a wide range of assets, mainly company shares, to spread the investment risk. Other assets include property, bonds and deposits.

Important legal information