So if your investments perform poorly, you could get back less than you started with. So for every 80 pence you put into a pension; the government will turn it into £1. Investment Week is hosting its Fixed Income Virtual Briefing at a time of huge uncertainty for investors as they try to navigate their way through the market fallout caused by the Covid-19 pandemic. Group self-invested personal pensions (GSIPPs); and; Group stakeholder pensions (GSHP). The “group personal and group stakeholder” category includes group personal pensions, group stakeholder pensions and group self-invested personal pensions. Group Personal Pensions (GPP) 0800 145 5744. And you can change that amount or stop and start payments when you need to – so you can build your pension around your budget; Tax efficient When you make a payment into your pension, you get basic rate tax relief from the government on up to 100% of your annual earnings or an annual allowance of £40,000. Key features of the WorkSave Buy Out Plan PDF file: Key features of the WorkSave Buy … Changing your investments form: WorkSave Pension Plan, Group Stakeholder Pension Scheme and Group Personal Pension 2000 Plan PDF file: Changing your investments form: WorkSave Pension Plan, Group Stakeholder Pension Scheme and Group Personal Pension 2000 Plan PDF size: 69KB . They work in a similar manner to a personal pension plan. At present, many private sector employers have adopted group personal pensions (GPPs) or group stakeholder plans as a low-cost, low-administration option. Sign up to receive email alerts about our events. For us, mutuality is a state of mind. For the With-Profit fund please refer to Legacy Funds, Norwich Union Pension - For Pension contracts taken out with Norwich Union PRIOR to 2 October 2000 . The Government has laid down a set of conditions for stakeholder pensions to make them more accessible and to limit the amount of charges that you have to pay. And you’ll have three main ways to enjoy the money you’ve saved – buy a secure income, dip in when it suits you or take it all as cash. During this briefing, we will hear from a number of fixed income managers about their response to the extraordinary events of the past few months and how they have been navigating turbulent market conditions. If an employee leaves the service of an employer offering a group personal pension scheme, they’ll still have a personal pension in their own name. If you have a letter of authority - please fax to: 0800 158 2350 Or email to: contactus@aviva.com. Stakeholder versus personal pension. When you reach age 55, you can access your pension savings – even if you’re still working. Delegates attending this event will benefit from thought-provoking presentations, informative Q&A sessions and structured CPD hours. The money is invested to grow your fund … You don’t need to do anything. Stakeholder pension providers also tend to cap charges and, if you’re unsure about the investments you’d like to make, offer a ‘default’ fund that’s designed to suit as many people as possible. So when we do well, we’ll aim to boost your pension savings by adding a share of our profits to your plan each year. A stakeholder pension allows for flexibility when it comes to the size and regularity of contributions. Because of tax relief, you only have to contribute £80 as the other £20 is made up of tax relief. The value of your retirement benefits are determined by the amount of contributions that have been made, the period that each contribution has been invested, and the investment growth over this period less charges. PensionBee can help you do this - we just need a few simple details and we’ll get to work finding and transferring your old pensions. This has particularly been the case where employers have reacted against the cost uncertainty and administrative burden of final salary schemes. But since the automatic enrolment law came in, companies are swapping to solutions like The People’s Pension. Sipps are ideal for some . Personal Stakeholder Pensions. In the UK personal pensions are the most popular way to fund retirement and your pension pot is normally built up through a workplace scheme. Stakeholder pensions (SHPs) are individual contracts between you, the member, and the pension provider. Registered office: 55 Gracechurch Street, London, EC3V 0RL. Being a mutual means we're owned by our customers. Waiver is not available on our platform products. As a mutual, we think our members should share in our success. To get the best experience when using this site, please update to the most recent version. These are usually either personal or stakeholder pensions. They can be attractive investment vehicles for business owners or a way of accumulating a worthwhile retirement fund.