Our Stakeholder Pension is a flexible way of investing money that you use to provide a retirement income. You also get all the tax advantages that a Stakeholder Pension can offer you.
Our Stakeholder Pension may offer you the flexibility, value and control you need to help you fund the retirement you want.
The Stakeholder Pension from Aviva 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. It differs from other personal pensions as it must meet minimum Government requirements on capped charges and low minimum payment levels.
Our Stakeholder Pension is a tax-efficient way to invest because HM Revenue & Customs allows you tax relief on your payments into your pension plans up to £3,600 a year or 100% of your UK taxable earnings if greater. With the tax relief, £2,880 paid in would effectively become £3,600. There is a total yearly payment limit on all payments to all your pension plans called the annual allowance which is £40,000. Any payment above this may be subject to a tax charge. If you are employed, your employer can also make payments into your plan and you won't normally pay tax or National Insurance on these. However, please bear in mind that the tax treatment depends on your individual circumstances and may be subject to change in the future.
If you're under 75 years of age and you want to invest for retirement in a tax-efficient and flexible way, our Stakeholder Pension may be right for you. The plan is suitable for people who are employed, self-employed or un-employed. You can also pay into a plan on behalf of your children or grandchildren.
The plan is suitable for people who are planning to buy a retirement income or take a tax-free cash lump sum between the ages of 55 and 75. If you want to wait until after you're 75, you can because the Government has changed some of the pension rules. You will have to take your money out of this plan and put it into another plan, which lets you use your pension fund after you're 75. You will need to do this before your 75th birthday.
If you're not sure whether our Stakeholder Pension Plan is right for you, we can help you decide.
You should be aware that current Government rules allow you to take your benefits at any time after age 55. However, with this plan, you must take them by age 75.
The first step is to talk it through with a financial adviser to make sure it's the right pension plan for you. If you don't have an adviser, you can find one in your area at unbiased.co.uk.
If you and your adviser agree that an Aviva Stakeholder Pension is right for you, your adviser will provide you with all the information you'll need to apply. This will include:
Register for our online service where you can securely access details of your existing policy.