Stakeholder pensions, provided by Royal London, are one of the most efficient ways of saving for retirement while allowing you to enjoy tax benefits. Most people will be eligible for tax relief on cash paid to a stakeholder pension, making it easier to build up a retirement fund. So currently if you save £100 every month, the Government will add £25 tax relief. And, if you’re a higher rate taxpayer you can claim an extra £25 through your tax return. Please note the Government may change the favourable tax treatment of pensions in future without notice. Future changes in legislation and your personal financial circumstances could affect your tax position. Plus any change could affect the amount of benefits you receive.
Note: A net monthly payment of £100 currently equates to £125 gross monthly payment at 20% relief.
Retirement may seem a long way off, but the sooner you start saving, the easier it will be to get the funds you’ll need to enjoy a more comfortable retirement. The minimum contribution is £20 at any time and, because it’s flexible, you can stop and re-start contributions whenever suits you.
The size of your fund at retirement will depend on future investment performance, the number of contributions made, charges deducted and your actual age at that time.
To get your pension started, call in to your local branch today or phone us on 0845 7654321 to book an appointment with an Santander Financial Adviser. We’ll help you work out your retirement income and find the investment funds that match your profile.
An annual fee of 1.5% is charged for 10 years, followed by 1% p.a thereafter.
Other information
If you wish you can transfer in funds from other registered personal or stakeholder pensions. We can arrange for your pension income to increase each year to take into account inflation. You can start to take your benefits at any time from age 55 to age 75 even if you’re still working. All benefits must start to be taken before your 75th birthday. If you transfer your plan or take your pension before your planned retirement date, your fund may not have had the chance to become as large as you had originally planned and may be less than the contributions paid.
To get your pension started, call in to your local branch today or phone us on 0845 7654321 to book an appointment with a Santander Financial Adviser. We’ll help you work out your retirement income and find the investment funds that match your profile.
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