Aviva Personal Pension
 | Personal Pensions | £200 | No | Dependent on fund | Dependent on fund | 184 | Employed, self-employed or not employed | Under 75 years of age |  |
| The Aviva Personal Pensions allows you to make one off or regular payments into your plan and the ability to stop, restart and change your payments to suit you. There are over 240 funds to choose from and when you reach retirement you have the option to retire gradually or full time. This pension give you flexibility and control over your investment. MORE INFORMATION >> | FeaturesFeatures1. You can usually take up to 25% of your fund as a tax-free lump sum.
2. The charge depends on your investment fund choice. Charges start from 1% of your plan value per year.
ServicesServices1. You can choose from over 240 funds managed by some of the top names in investment management such as Fidelity and Invesco.
2. Your advisor will provide you with a personalised illustration. This will show you the effect of the annual fund charge and the cost of payments to your advisor.
3. Less than five years before your retirement, your fund will gradually be moved into the Retirement Protection Fund and Deposit Fund.
4.You have the choice to add the indexation feature to your pension (the ability to increase your payemnts in line with the National Earnings Index).
AdvantagesAdvantages1. Choose from over 240 funds from some of the top names in investment management.
2. You receive tax relief on your payments, which is added to your pension fund.
3. You can make regular and/or one-off payments - and you can stop, restart and change your payments to suit your circumstances
4. Choose either full or semi-retirement with our range of income options
DisadvantagesDisadvantages1. The value of your pension investment can go down as well as up and is not guaranteed.
2. If you take a break from your payemnts or reduce the amount you are paying into your pension fund, you will need to remember that Aviva will still apply charges. |
Standard Life Active Money Personal Pension
 | Personal Pensions | £150.00 | No | 20% tax relief | 0.5% to 2% a year | 160 | Aged between 25 and 40 | You must be under 75 years old | |
| Your Active Money Personal Pension adapts to suit your needs as your life changes. If you start savings towards retirement now, as time goes on you are able to add more features. You only pay for the features you need right now. You are able to invest what you can afford and have the ability to increase, decrease or stop your pension payments as you wish. MORE INFORMATION >> | FeaturesFeatures1. You can switch between more than 160 funds online with no charge (though this may change in future).
2. You can take a tax-free lump sum of up to 25% of your pension savings - although that means a smaller yearly income
3. Save monthly from £150, Save yearly, from just £1500
4. Once you've set up regular payments, save when you like, whatever you like - making ad hoc payments into your plan of any amount.
ServicesServices1. You can switch between more than 160 funds online with no charge
2. Free to change your address details
AdvantagesAdvantages1. Free to transfer money in from another pension
2. Free to transfer money to another pension
3. Free to change your address details
4. Free to increase, decrease or stop your pension payments
5. If you're a basic-rate taxpayer you'll get 20% tax relief which Standard Life will automatically add to your plan.
DisadvantagesDisadvantages1. Fund managers may make an additional charge to cover costs such as fees for trustees, registrars, auditors, and regulators. This may take the overall charge over 2%.
|
The co-operative CIS Individual Personal Pension
 | Personal Pensions | Apply to confirm | No | Dependent on fund | 1.50% - 2.85% | 20 | Must be a UK resident. | Must be 50 years old to withdraw funds | |
| The co-operative CIS Individual Personal Pension enables you to take control over your retirement planning and provides a tax efficient way for you to save. It offers a wide range of funds for you to invest in to suit you. MORE INFORMATION >> | FeaturesFeatures1. Different funds have different levels of risk.
2. You can choose from the ready-made fund portfolio or individual funds, up to a total of 10 funds and/or portfolios. These funds are then looked after by a fund manager.
ServicesServices1. Financial Advice Service available
AdvantagesAdvantages1. It's very tax efficient. For every £80 you pay in, the government adds £20 tax relief (and if you're a higher rate tax payer you can claim back even more through your tax return).
2. It's completely portable. Your employer can make a contribution but you're free to take it with you if you move jobs.
3. There is a wide range of funds to invest in.
4. If you contribute regularly, you can change your payments at any time.
DisadvantagesDisadvantages1. The co-operative take a total yearly charge from each fund, as a percentage of the fund value.
2. Additional fund management charges and expenses connected with owning and maintaining the assets, such as trustees' fees are applied.
3. There is no way to control the market so there is no guarantee on your return. |
Prudential Personal Pension
 | Personal Pensions | Apply to confirm | No. | Dependent on fund | 1% | 19 | Under 75 years old | The earliest age you can take your funds is 50 | |
| The Prudential Personal Pension offers you a tax efficient and flexible way to save for your retirement. You are able to increase, decrease or stop and start payments at any time without penalty. Charges vary but are typically 1% of the total fund. MORE INFORMATION >> | FeaturesFeatures1. Prudential will send you annual statements to inform you how your pension is doing. Alternatively, you can email them for updates.
ServicesServices1. Prudential is committed to providing a broad range of investment funds by offering you the choice of selecting investment funds soley managed by Prudential or those managed by leading external investment managers.
AdvantagesAdvantages1. Switch funds at any time with no switching charge.
2. Annual charges are currently about 1% of the total fund.
3. The fund managers will move your money automatically to less risky investments as you near your intended retirement date.
4. You can increase, decrease or stop and start payments at any time without an additional penalty.
DisadvantagesDisadvantages1. Market Value Reduction may be applied to any switch out of the With-Profits Fund. Note that as a result of this the value of your fund might be reduced.
2. There are different risks for different funds.
3. The value of the investments that make up your scheme can go down as well as up. The value can even fall below the amount you invested.
4. If you start your scheme with a single payment and then cancel it within 30 days, you may get back less money than you paid in.
5. Inflation will reduce what you can buy in the future. |
Scottish Widows Retirement Account
 | Personal Pensions | £100 a month | No | Dependent on product. | Wide range of annual charges | Over 100 | UK residents. | Must be resident in the UK. | |
| Scottish Widows Personal Pension helps to build up a sum of money in a tax efficient way which will be used to provide you with an income when you retire. MORE INFORMATION >> | FeaturesFeatures1. Payments are used to buy units in the investment funds you choose. They work out the value of you plan based on the total number of units you have in each fund.
ServicesServices1. Check you pension online.
AdvantagesAdvantages1. Stop, restart or change payments currently without charges.
2. Get tax relief at your highest rate on your payments (subject to HM Revenue & Customs limits)
3. You can transfer the value of your plan to an employer’s scheme currently without charge. 4. You can also transfer to other registered pension schemes.
DisadvantagesDisadvantages1. Annual charges are not displayed on the website.
2. The value of your fund can go up as well as down.
3. What you get back is not guaranteed.
4. If you change your mind within 30 days of receiving your cancellation notice and the value of your plan has fallen, the amount returned may be less than was invested. |
Barclays Stockbrokers PensionMaster
 | Self-Invested Personal Pensions | Speak to Financial Advisor | Yes | Varies | £37.50 + VAT per quarter | Speak to Financial Advisor | Making your own investment decisions. | The earliest age you can take your funds is 55 | |
| Barclays Stockbroker Pension Master allows you to make your own pension decisions and choose how, when and where to invest. You must be sure that you are comfortable making your own investment decisions and that you have the relevant skills, experience and time to do this. As with all Self Invested Personal Pensions there is no guarantee that you will get back the full amount you invest. MORE INFORMATION >> | FeaturesFeatures1. You can add funds to your SIPP account in a number of ways. All contributions are subject to Annual Allowance and the Lifetime limit.
(a) Direct Debit
(b) Cheque
(c) Electronic transfer
(d) Transfer from an existing pension
2. Commission is charged per deal. Other charges and service restrictions may apply.
ServicesServices1. Barclays Stockbrokers Price Improver has links to more Market Makers than any other provider.
2. A quarterly printed report showing the value of your account will be sent to you.
3. You can request the Annual Report & Accounts for UK companies held in your account
AdvantagesAdvantages1. No set up fees.
2. If you are fully invested in Funds Market funds, the annual administration charge will be waived.
3. All contributions to your PensionMaster are processed via the PensionMaster Administration team to ensure that basic rate tax relief is claimed on your behalf.
4. You can receive 25% of the pension fund value as a tax free lump sum the remaining benefits are drawn as a gradual income which is subject to your tax rate at that time, though this is potentially a lower tax rate than that you currently pay.
DisadvantagesDisadvantages1. You need to be comfortable that you have the skill and experience to make your own investment decisions and have sufficient time to monitor investment performance.
2. Administrative charges £37.50 + VAT per quarter.
3. There are no guarantees you will get back the full amount you invest. |
TD Waterhouse Self-Invested Personal Pension
 | Self-Invested Personal Pensions | Apply to confirm | Yes | £9.95-£19.95 (Flat Rate) | £10 + VAT per quarter | N/A | Making your own investment decisions. | Must be under 75 years old. | |
| The TD Waterhouse Self-Invested Personal Pension gives you flexibility and control over your savings and where they are invested. There is no initial set up fee and you can have easy access to your plan online or by phone. You have readily available normal trading facilities and extensive company research. MORE INFORMATION >> | FeaturesFeatures1. A SIPP from TD Waterhouse lets you choose from a wide range of investment types:
(a) Cash deposits.
(b) UK equities (including AIM).
(c) International equities.
(d) Bonds & gilts.
(e) Investment trusts, unit trusts & OEICs and Exchange Traded Funds.
(f) REITs.
(g) Warrants & Securitised derivatives including covered warrants.
2. You will receive tax relief on yearly contributions up to: £3,600 gross if you are a Relevant UK Individual (even if you have no earnings) or 100% of your UK earnings, whichever is greater.
3. You are responsible for making all investment decisions and giving investment instructions directly to TD Waterhouse.
ServicesServices1. You can take benefits from the age of 50 (55 from 6th April 2010) and you don't even have to stop working.
2. You can normally take 25% of the value of your SIPP as a tax free cash sum. The remaining investments can be used to provide you with an income via annuity purchase and or income drawdown.
AdvantagesAdvantages1. Full range of investment options; UK & international equities, bonds & gilts, investment trusts, unit trusts, OEICs, REITS and Exchange Traded Funds.
2. Easy access to your plan online or by phone.
3. No initial set up fee.
4. Access to normal trading facilities and extensive company research.
5. Multi currency facility, hold cash in 7 major global currencies (GBP, USD, CAD, EURO, HKD, AUD & SGD).
6. Contributions can be one off and/or regular.
7. Contributions can be made by you or your employer.
DisadvantagesDisadvantages1. There is an anual allowance of £235,000 in the tax year.
2. The lifetime allowance will be set at £1.8 million by 2010/2011.
3. It is not possible to make withdrawals until the age of 50.
4. Account Management Fee £10 + VAT per quarter will be charged on all inactive accounts.
5. There are no guarantees you will get back the full amount you invest. |
Legal and General Stakeholder Pension Scheme
 | Stakeholder Pensions | £20 | No | 5,7, 9% depending on investment | Not exceed 1.5% each year | 23 | Under 75 year old | Your chosen retirement age must be at least five years away. | |
| Legal and General Stakeholder pension plan is a simple and tax efficient way to save for retirement. With 23 investment funds to choose from, you can be sure that you will build up your fund to provide you with a pension income when you take the benefits. You can stop, start, increase or decrease contributions and pay in single contributions at any time without penalties. As this is a stakeholder pension plan the annual management charge will not exceed 1.5% MORE INFORMATION >> | FeaturesFeatures1. There are 23 Legal & General pension investment funds to choose between, ranging from index-tracking funds (which track the performance of a market or geographical region) to actively managed investment funds (where a fund manager decides what to invest in, in order to best achieve the fund's aims).
2. You can switch your investment from one fund to another, whenever you choose, free of charge.
3. You may benefit from lower charges when you apply for Legal & General's Stakeholder pension plan online. It takes just 20 to 30 minutes to complete your application
ServicesServices1. You can manage your Stakeholder Pension online so that you can see how your pension investment fund is performing.
2. Statements are issued to you on the plan anniversary. They detail all account transactions made during the last year and a valuation.
3. You can pay regular contributions by direct debit on a monthly or annual basis.
AdvantagesAdvantages1. Simple, low cost, tax efficient way to save for your retirement.
2. The money you pay into your Stakeholder pension is put into one or more investment funds of your choice.
3. You can stop, start, increase or decrease regular contributions, and pay in single contributions at any time without penalties.
4. Offer a choice of 23 pension investment funds, so you can select the type of investment and level of risk that suits you.
5. You can manage your pension plan online.
6. No charge to transfer the value of your pension plan to another registered pension plan.
7. You may be able to take up to 25% of your pension fund as a tax free lump sum and use the rest to provide an income.
DisadvantagesDisadvantages1. Benefits can only be taken between the ages of 55 - 75.
2. There are certain limits on how much you can pay in and get tax relief on.
3. There is an Annual Management Charge. The rates of these charges reduce as your funds grow. The charge will, currently, not exceed 1.5% each year of the value of your fund.
|
The Co-operative CIS Stakeholder Pension
| Stakeholder Pensions | £20 | No | Dependent of product | 1.5% | 7 | Must be UK resident | Must be 50 years old to withdraw funds | |
| The co-operative CIS Stakeholder Pension offers you an affordable way to plan for your future. You can invest with a minimum of £20 and you are able to stop, start or alter your payments at any time you want. You can easily apply by downloading an application form online. MORE INFORMATION >> | FeaturesFeatures1. The minimum contribution including tax relief is £20 for both monthly contributions and single contributions. Monthly contributions are normally payable by direct debit, single contributions by cheque.
ServicesServices1. You can invest the contributions paid by you and your employer in one or more of the managed funds or the lifestyle option. Unless you state otherwise on the application form, they will invest your contributions through the CIS With-profits Stakeholder Fund with Lifestyle.
AdvantagesAdvantages1. You can convert all your pension which will be taxable or you can take up to 25% of the plan value as a tax free cash sum in return for a smaller taxable pension.
2. On the 10th Anniversary of your plan, the annual management charge will reduce to 1% of the value of the funds you accumulate.
3. You have 30 days in which you can change your mind and The co-operative will give you and/your employer your money back
DisadvantagesDisadvantages1. What you get back depends on investment performance up to your retirement date, interest rates and when you retire.
2. The co-operative take some or all of the annual charge from your capital.
3. Your plan could invest in a range of funds which include stocks and shares, and carry differing leves of risk. Whichever funds you choose, the value of your plan could go down as well as up. |
Virgin Personal Pensions
 | Stakeholder Pensions | £1 | No | Dependent on fund option | 1% | 2 | Min age 16 years | The earliest age you can take your funds is 50 | |
| Virgin Personal Pensions is a straight forward, easy to understand pension plan. It is a stakeholder’s pension, so it comes with low charges and guaranteed standards. The Virgin Pension works by locking your savings (in the early years) into the long term growth of the whole stock market. Once your funds have grown, they will be protected in the Pension Income Protector Fund near your retirement. Your Virgin Pension is designed to try and help you maximise the income you get when you retire. MORE INFORMATION >> | FeaturesFeatures1. As you near retirement, your investment automatically gets moved into a less volatile fund.
2. If you'd like your employer to contribute, just let Virgin Money know and they will send you a form making it easy for them to do.
3. Two Fund Options: (1) The Virgin Pension Growth Fund - invests in the Virgin UK Index Tracking Trust. They will use the stock market to grow your pensions savings over the long term (2) The Virgin Pension Income Protector Fund - Invests in the Virgin Income Trust. The aim is to use fixed investments like gilts and bonds to protect your funds as you near retirement.
ServicesServices1. Annual charge 1%
AdvantagesAdvantages1. Straight forward investing, with a proven approach to stock market growth.
2. Stop, start, increase or decrease your payments whenever you want to.
3. Keep track of your pension 24/7 online, or by phone.
4. It's a stakeholder pension, so it comes with low charges and guaranteed standards.
5. Annual charge 1%
6. Free transfers to other providers
7. Statements twice yearly
8. Virgin Money claim basic rate tax relief for you and invest it in your pension.
DisadvantagesDisadvantages1. Stock Market shares are very volatile so there are no guarantees you will get back the full amount you invest.
2. The value of your pension will depend on how much you save, the charges you pay and the rate at which your investment grows over the year.
3. If you are able to pay in more than £245,000 a year, you do not get tax relief on payments above that, and will be taxed on them.
4. If you pay higher rate tax you need to claim the additional relief on your annual tax return. |
Aviva Stakeholder Pension
| Stakeholder Pensions | £20 | No | Dependent on product | 1% | 34 | You must be under 75 years | The earliest age you can take your funds is 50 old. | |
| Aviva Stakeholder Pension offers a flexible way to invest your money for when you retire. You can start your pension with just £20.00 and increase or decrease your payments as you wish. Benefit from their low annual management charges if you apply online – a maximum of 0.9% - which covers the cost of plan administration and looking after your investments. MORE INFORMATION >> | FeaturesFeatures1. When you retire, you can usually take up to 25% of your fund as a tax-free lump sum.
2. You can make regular monthly or yearly payments into your Aviva Stakeholder Pension. This is normally done by direct debit from your bank or building society account. You can also make one-off payments at any time, which could include money you've moved from another pension scheme.
ServicesServices1. Aviva will help you by investing your payments using the Balanced Managed Lifestyle Strategy.
AdvantagesAdvantages1. You can stop, re-start, or change your payments to suit your needs.
2. You get tax relief on your payments
3. You can invest in one or more of the wide range of pension funds.
4. When you retire, you can usually take up to 25% of your fund as a tax-free lump sum.
5. There's a maximum annual charge of 1% of the fund value each year, but if you apply online this charge is just 0.9%.
DisadvantagesDisadvantages1. The value of a pension fund can go down as well as up and is not guaranteed.
2. The level of risk/return depends on the fund(s) you're invested in - the higher the potential for growth, the greater the risk. |
Standard life Stakeholder Pension
| Stakeholder Pensions | £20 | No | Dependent on product | 1% | 20 | UK Residents | Must be under 75 years old. | |
| The Standard Life Stakeholder pension offers you a way to build up a sum of money in a tax efficient way, which will buy you a pension when you retire. How much money you get when you will retire will depend on various things, including how much you save, the performance of your funds and any payment breaks that you take. MORE INFORMATION >> | FeaturesFeatures1. If you start a new job you can carry on paying into your plan or transfer it to your new employer's scheme at no extra charge.
2. Standard Life organise their funds into 'hands off' ready made and 'hands on' pick your own groups, depending on how involved you would like to be in managing your funds.
ServicesServices1. Online Service
AdvantagesAdvantages1. You can start with as little as £20 a month (gross).
2. Receive generous tax benefits.
3. This plan can accept payments from your employer or from other third parties
4. You can take a payment holiday at any time for as long as you need.
DisadvantagesDisadvantages1. Your money is locked away until you reach retirement age so you can not cash in your plan at any time.
2. You may get back less than you pay in.
3. Annuity rates when you retire could be worse than illustrated, for example, due to interest rates being lowered.
4. Your plan may invest in different types of investments, including investments based on stocks and shares, which carry different levels of risk. The value of your investment can fall as well as rise.
5. If you start the plan with a single payment and cancel during the 30 days cancellation period. You may get less back than what you paid.
6. Standard Life continue to take charges each year even if you stop making payments |
Legal and General Child Stakeholder Pension
| Child Stakeholder Pensions | £20 | No | Dependent on fund. | Does not exceed 1.5% | 20 | Parent putting money away for a child. | The money is tied up until the benefits are taken.
| |
| The Legal and General Stakeholder Pension for children is a low cost, tax efficient way to help provide for your child’s future. You are able to start investing from as little as £20.00 gross and can stop, start, increase or decrease regular contributions, and pay in single contributions at any time without penalties. You can put the money into one or more investment funds of your choice. It does not matter if you are a parent, grandparent, uncle, aunt or godparent – anyone can start putting money away for a child. MORE INFORMATION >> | FeaturesFeatures1. When the child reaches their 18th birthday they will then take ownership of the plan and will make the decisions around its management.
2. You may benefit from lower charges when you apply for a Legal & General child Stakeholder Pension Plan online.
ServicesServices1. You can manage the pension plan online.
2. You can normally take up to 25% of your pension fund as a tax-free cash sum and use your remaining pension fund to buy a regular income for the rest of your life
3. You can apply online, by paper application or by telephone.
AdvantagesAdvantages1. There is a wide range of pension investment funds, so you can select the type of investment and level of risk that suits you.
2. Stop, start, increase or decrease regular contributions, and pay in single contributions at any time without penalties
3. You can change funds at any time with no penalties.
4. You will normally receive tax relief on the money you pay into your pension plan
DisadvantagesDisadvantages1. The value of the units which make up the pension fund can go down as well as up, so the value of the pension fund is not guaranteed.
2. If you decide to cancel within the 30-day cancellation period, you may not get a full refund. |
Virgin Childrens Pension
| Child Stakeholder Pensions | £20 | No | 1% | Dependent on fund option | 2 | Savings for your Child's future | Benefits can be taken at 55 years olf | |
| Virgin’s Children’s Pension is a stakeholder pension, so it comes with low charges and guaranteed standards. It is easy to set up and you can easily keep track of its progress 24/7 online or by phone. Once it is set up anyone can contribute to it. MORE INFORMATION >> | FeaturesFeatures1. Grandparents, aunts, uncles and other adults can also invest in your child's pension fund once you have set it up.
2. Ownership of the pension switches to your child on their 18th Birthday.
ServicesServices1. If you want to save for more than one child you can open a stakeholder pension for each of them.
AdvantagesAdvantages1. Easy to understand, easy to set up
2. Save monthly or pay in lump sums - there are no payment tie-ins
3. Once it is set up, grandparents and others can contribute too Keep track of your child's pension 24/7 online, or by phone #
4. It is a stakeholder pension, so it comes with low charges and guaranteed standards
DisadvantagesDisadvantages1. No guarantees you will get back the full amount you invest.
2. The amount of pension income provided by their retirement fund will depend on a number of factors, including investment returns and annuity rates when they retire. |
Bookmark with:
What are these?