Which is the best stakeholder pension in the UK?
A stakeholder pension plan is a long-term investment that helps you build up a sum of money that you can then use to provide yourself with an income in retirement. They differ from other personal pensions as they must meet minimum government requirements on capped charges and low minimum contribution levels. A stakeholder pension is a tax-efficient way to invest because HM Revenue & Customs (HMRC) allows you tax relief on your payments into your pension plans up to £2,880 a year or 100% of your UK taxable earnings if greater. With the tax relief, £2,880 paid in would effectively become £3,600. And you won’t normally pay tax or National Insurance on payments made by your employer. However, bear in mind that the tax treatment depends on your individual circumstances and may be subject to change in the future.
