Stakeholder pensions - technical summary
Stakeholder pension schemes were introduced on the 6 April 2001.
- Stakeholder pension schemes could be set up from 6 April 2001.
- Unless exempt, it was compulsory to designate a scheme from 8 October 2001.
- The requirement to designate a stakeholder pension scheme stopped on 1 October 2012.
From 1 October 2012 (when automatic enrolment started), employers no longer had to designate a stakeholder scheme. However, where someone was already a member of a stakeholder pension on 1 October 2012, the employer must continue to deduct contributions from their pay and pass these to the stakeholder provider, unless the member asks them to stop.
This analysis looks at some of the more technical requirements that apply to stakeholder pensions.
The information provided is based on our current understanding of the relevant legislation and regulations and may be subject to alteration as a result of changes in legislation or practice. Also it may not reflect the options available under a specific product which may not be as wide as legislations and regulations allow.
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