PENSIONS - COMPARE STAKE HOLDER PENSIONS AND PERSONAL PENSIONS

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Please see a range of pensions providers below. Use the table to compare which provider and account type suits your plan. Before signing up to a pensions plan, consider what your financial goals are.

Compare which type of pensions plan might suit your needs – do you want to place a portion of money in stocks and shares? Will you want a joint-life plan or single? Remember personal pensions and stakeholder pensions have differences.

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All Pensions    Personal    SIPP    Stakeholder    Child Stakeholder

Have you considered what the annuities options there are if you are a smoker or have a medical condition? Don't forget to find out what, if any, pension schemes are offered by your employer. In some schemes, employers contribute to your fund or seek a provider on your behalf. For self-employed people, personal pensions are suitable.

Once you have found a provider and pensions plan which suits you, simply click on the Apply button to be taken through the next steps.

Pension Info    Investments Info    Wills Info    Pension Release Info

Pension Releases  Wills
PROVIDERTYPEMIN
INVESTMENTS		SIPP
OPTION		RATEFEES/CHARGESFUND
OPTIONS		SUITABLECONDITIONSAPPLY
Aviva Stakeholder Pension
Aviva Stakeholder Pension		Stakeholder Pensions£20NoDependent on product1%34You must be under 75 yearsThe earliest age you can take your funds is 50 old.Aviva Stakeholder Pension
This 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.
DETAIL INFORMATION >>		Features

Features

1. 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.


Services

Services

1. Aviva will help you by investing your payments using the Balanced Managed Lifestyle Strategy.


Advantages

Advantages

1. 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%.


Disadvantages

Disadvantages

1. 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.

Barclays Stockbrokers PensionMaster
Barclays Stockbrokers PensionMaster		Self-Invested Personal PensionsSpeak to Financial AdvisorYesVaries£37.50 + VAT per quarterSpeak to Financial AdvisorMaking your own investment decisions.The earliest age you can take your funds is 55Barclays Stockbrokers PensionMaster
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.
DETAIL INFORMATION >>		Features

Features

1. 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.


Services

Services

1. 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


Advantages

Advantages

1. 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.


Disadvantages

Disadvantages

1. 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.

Virgin Childrens Pension
Virgin Childrens Pension		Child Stakeholder Pensions£20No1%Dependent on fund option2Savings for your Child's futureBenefits can be taken at 55 years oldVirgin Childrens Pension
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.
DETAIL INFORMATION >>		Features

Features

1. 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.


Services

Services

1. If you want to save for more than one child you can open a stakeholder pension for each of them.


Advantages

Advantages

1. 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


Disadvantages

Disadvantages

1. 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.

The Co-operative CIS Stakeholder Pension
The Co-operative CIS Stakeholder Pension		Stakeholder Pensions£20NoDependent of product1.5%7Must be UK residentMust be 50 years old to withdraw fundsThe Co-operative CIS Stakeholder Pension
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.
DETAIL INFORMATION >>		Features

Features

1. 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.


Services

Services

1. 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.


Advantages

Advantages

1. 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


Disadvantages

Disadvantages

1. 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
Virgin Personal Pensions		Stakeholder Pensions£1NoDependent on fund option1%2Min age 16 yearsThe earliest age you can take your funds is 50Virgin Personal Pensions
This product is a straight forward, easy to understand pensions 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.
DETAIL INFORMATION >>		Features

Features

1. 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.


Services

Services

1. Annual charge 1%


Advantages

Advantages

1. 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.


Disadvantages

Disadvantages

1. 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.

Legal and General Stakeholder Pension Scheme
Legal and General Stakeholder Pension Scheme		Stakeholder Pensions£20No5,7, 9% depending on investmentNot exceed 1.5% each year23Under 75 year oldYour chosen retirement age must be at least five years away.Legal and General Stakeholder Pension Scheme
Legal and General Stakeholder 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 plan the annual management charge will not exceed 1.5%.
DETAIL INFORMATION >>		Features

Features

1. 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


Services

Services

1. 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.


Advantages

Advantages

1. 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.


Disadvantages

Disadvantages

1. 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.

Aviva Personal Pension
Aviva Personal Pension		Personal Pensions£200NoDependent on fundDependent on fund184Employed, self-employed or not employedUnder 75 years of ageAviva Personal Pension
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.
DETAIL INFORMATION >>		Features

Features

1. 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.


Services

Services

1. 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).


Advantages

Advantages

1. 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


Disadvantages

Disadvantages

1. 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.

Scottish Widows Retirement Account
Scottish Widows Retirement Account		Personal Pensions£100 a monthNoDependent on product.Wide range of annual chargesOver 100UK residents.Must be resident in the UK.Scottish Widows Retirement Account
Scottish Widows 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.
DETAIL INFORMATION >>		Features

Features

1. 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.


Services

Services

1. Check you pension online.


Advantages

Advantages

1. 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.


Disadvantages

Disadvantages

1. 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.

Prudential Personal Pension
Prudential Personal Pension		Personal PensionsApply to confirmNo.Dependent on fund1%19Under 75 years oldThe earliest age you can take your funds is 50Prudential Personal Pension
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.
DETAIL INFORMATION >>		Features

Features

1. Prudential will send you annual statements to inform you how your pension is doing. Alternatively, you can email them for updates.


Services

Services

1. 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.


Advantages

Advantages

1. 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.


Disadvantages

Disadvantages

1. 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.

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