stakeholder pension

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Related to Stakeholder pension scheme: Personal pension scheme

stakeholder pension

n
(Insurance) (in Britain) a flexible pension scheme with low charges, in which contributors can stop and restart payments and switch funds to another scheme without paying a penalty
References in periodicals archive ?
Instead, where required, they have perhaps "designated" a stakeholder pension scheme into which no employer contributions had to be made.
Portland Nurseries was one of the first nurseries in the country to offer a company-contributed stakeholder pension scheme and has since added health and loyalty schemes as well as rewarding every five years' of service with a five-day "holiday voucher".
While other personal pension schemes may impose penalties for irregular payments, by law a stakeholder pension scheme cannot penalise its members for stopping or missing contributions.
Currently, all of Real Point's employees are signed up to its stakeholder pension scheme and the firm pays a 50-50 contribution up to the first pounds 50.
UNDER current pension legislation, parents can save up to pounds 3,600 a year into a stakeholder pension scheme on behalf of their children.
Your employers are not obliged to put you in the same pension scheme as previous employees, and as they are making your offer of employment on the basis of admission to a stakeholder pension scheme only, you cannot do anything to make them put you in the final salary scheme.
Offering access to a GPP will exempt a company from the requirement to designate a stakeholder pension scheme, providing they contribute an amount equal to 3% of employees' earnings and the GPP has no exit penalties.
Recent changes in the law mean that most companies with more than five employees now have to offer you either membership of an occupational pension scheme or access to a stakeholder pension scheme.
For the past four years he's been in a Norwich Union stakeholder pension scheme to which his employer contributes two per cent of his salary.
Since October 2001 employers with more than five employees have been required to designate a registered stakeholder pension scheme, unless they offer an occupational pension scheme that all staff can join within a year of starting to work for the firm.
OPRA is already carrying out spot checks on businesses across the UK to make sure employees have the opportunity to join either a stakeholder pension scheme or an alternative scheme.