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You asked: What is the difference between a stakeholder pension and a personal pension?

There are several important differences between a stakeholder pension and a personal pension. Here are the main ones:

  • The level of annual Fund charge you pay. The charge for a stakeholder pension is limited to 1% of the value of your pension, but this could be significantly higher for some personal pensions.
  • The amount you can contribute. For a stakeholder pension, the minimum you can contribute is £20 and is set out in legislation. For a personal pension, the pension provider sets the minimum limit.  The maximum you can contribute to an Aviva pension scheme is set out in legislation and is called the annual allowance.
  • The types and range of investment options also differ. Stakeholder pensions tend to offer a smaller range of funds and investment options than personal pensions.

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