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Stakeholder pension
On offer from April 2001, stakeholder pensions aim to provide a low-cost, transparent and flexible way for people to save for their retirement.£3,600, including basic rate tax relief, can be invested in the stakeholder pension each yearBasic rate tax - worth 22% - will be claimed on your behalf by the pension company running the pension. So the maximum you actually pay is £2,808 per year.Money invested in stakeholder pensions will be invested in the stock market. On retirement a quarter of the accumulated capital can be taken out as a tax-free cash sum, and the rest has to be used to buy an annuity which pays the retirement pension.Anyone in a company pension scheme earning less than £30,000 a year next year will be able to pay into a stakeholder pension at the same time as they make contributions to an occupational pension scheme.Employers with five or more employees who do not offer any kind of pension scheme will have to provide access to a stakeholder scheme.
Similar MatchesStakeholdersStakeholders
All parties that have an interest, financial or otherwise, in a firm-stockholders, creditors, bondholders, employees, customers, management, the community, and the government.
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