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Stakeholder Pensions

  1. Overview
  2. In detail
  3. Illustration
  4. FAQs
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Stakeholder Pension in detail

Options at retirement

  • You can normally choose your retirement age – anytime from the age of 55.
  • At your selected pension date, you can choose one or more of several options.
  • You can take one or more pension encashments (subject to restrictions which apply).
  • You can use some or all of the value to take a tax-free cash sum and provide a taxable income.
  • For full details of your options at retirement, please speak to your financial adviser, or see our Retirement Planning section.


What income might you receive?

Request an illustration to help calculate

  • What income you might get when you take your benefits
  • How much your tax-free lump sum might be
  • What your payments could be
  • What the plan charges will be

By answering a few questions and choosing the funds you would like your money to be invested in, you can get a rough idea of what income you could receive when you take your benefits, if certain growth rates and other assumptions are met.

As well as income and a tax-free lump sum, you can take one or more pension encashments once you are 55 (subject to restrictions which apply).


Investment options

  • You can invest in our range of unit-linked pension funds
  • You can choose to put all your pension money into one fund, or spread it between up to 10 funds. There are also a number of lifestyle switching options and Pension Investment Approaches available. Please contact us for these details.
  • Your choice of funds should be based on your own circumstances, and on your attitude to risk
  • Read our Stakeholder Funds Guide and view our fund range
  • Find out more about our Investment approaches

Risks involved:

  • In long-term investments, risk and reward are inseparable. Put simply: lower risk generally means lower potential growth
  • The value of an investment is not guaranteed and can go up and down depending on investment performance (and currency exchange rates where the fund is invested overseas) and could fall below the amount(s) paid in.
  • Please be aware that the definitions and investment approach ratings for specific funds may change in the future
  • There may be restrictions on the amount you can invest in certain funds. Please contact us for details on any restrictions that apply



  • There is only one annual charge applicable and this is currently 1% of your fund value.
  • There are no separate set-up charges.


Your commitment

  • To make the payments you agree to pay.
  • To tell us if you are no longer entitled to receive tax relief on your payments.


Key reading



  • Pensions are a long-term investment. The retirement benefits you receive from your pension plan will depend on a number of factors including the value of your plan when you decide to take your benefits which isn't guaranteed, and can go down as well as up. The value of your plan could fall below the amount(s) paid in.
  • The value of the tax benefits of a pension plan depend on your individual circumstances. Tax rules and your circumstances may change in the future.
  • If you take pension encashments, this will reduce the value of your plan. It may leave you with insufficient funds when you are older. High levels of pension encashments may not be sustainable and could reduce the value to zero.
  • For further details of the risks associated with investing in a Stakeholder Pension, please see the Stakeholder Pension key features.



If you are employed, we recommend you consult your employer about whether there is a company pension scheme you can join before you make a final decision on a private Stakeholder Pension.

Need further information?

View our FAQs or contact us.

View our pension calculators and guides.


Not for you?

See our other pension products

Stakeholder Pension illustration