Always remember that investments can go down as well as up in value, so you could get back less than you put in. How you’re taxed will depend on your circumstances, and pension and tax rules can change.

Best Stakeholder Pension Providers

Updated On:
Jan 2, 2022
An alarm clock
· 4 min read
Best Stakeholder Pension Providers

Contents:

What is a Stakeholder Pension?

A stakeholder pension is a type of personal pension that must meet minimum standards set by the government.


These minimum standards include:

  • Capped charges, 
  • Free transfers, 
  • Low minimum contributions, 
  • Flexible contributions (you can stop and start payments when you want), and 
  • A default investment fund (if you don't want to choose investments).


Due to their flexibility, stakeholder pensions can be of particular benefit if you're self-employed, on a low income, or not working.

How do Stakeholder Pensions Work?

You can get a stakeholder pension from investment platforms, insurance companies, or high street banks. 


Your employer can also arrange your stakeholder pension. If a stakeholder pension is provided through your employer, they will have chosen the pension provider and might also arrange for contributions to be paid from your wages or salary. In most cases, your employer will contribute to your pension pot as well.

See, Workplace Pension Scheme - Auto Enrolment

Tax Relief on Stakeholder Pensions

The government will usually add money to your stakeholder pension in the form of tax relief (free money).


For every £80 you put into your pension, the government adds £20 - and you can claim an extra £20 if you're a higher earner.


You can think of tax relief as a refund of the tax you originally paid on your pension contribution, at your usual rate of income tax - 20%, 40%, or 45%. 


It's your pension provider who claims this tax relief at the basic rate and adds it to your pension. Tax relief for higher rate taxpayers is slightly different. If you're a higher rate taxpayer, you'll need to claim the additional rebate through your tax return.


Best Stakeholder Pension Providers

Compare some of the best stakeholder pension providers below:

You usually can't access the money in your pension pot until you are at least 55 years old (increases to 57 in 2028) when you can take 25% as a tax-free lump sum.

Capital at risk. Other charges may apply.

Aviva - Ready-made stakeholder pension; Offers financial advice

Aviva's Logo
Product
Stakeholder Pension
Account Type
Ready-made
Minimum Contribution
£20 per month
Annual Fund Management Cost
Capped at 1%

The Aviva Stakeholder Pension allows you to invest your money in a range of funds that offer you access to various assets such as stocks, shares and property. And you can choose from a range of high to low risk funds, depending on your attitude to risk. With Aviva, you can start your Stakeholder Pension with as little as £20 a month, and pay money into your pension plan either regularly, e.g. every month, or make one-off payments. You can also change that amount or stop and start payments when you need to. When you reach the retirement age of 55 (57 from 2028), you will have a number of options about how you can use your pension savings, including taking an income, lump sum or a combination of both of these. The Aviva Stakeholder pension also lets you create a pension pot for your children or grandchildren. You can deposit up to £2,880 for each child per year.

With Aviva, you pay only an annual fund charge, which is capped at 1%. And you will not have to pay any charges for setting up your investment or for switching money between funds. Aviva offers financial advice at a separate fee.

Please note: When you pay into a pension, your capital is at risk.

GO TO SITE

Standard Life - DIY and ready-made stakeholder pension

Standard Life
Product
Stakeholder Pension
Account Type
DIY & Ready-made
Minimum Contribution
£16
Annual Fund Management Cost
Capped at 1%

The Standard Life Stakeholder Pension allows you to invest your money in 30+ funds and 2 Lifestyle Profiles. You can invest in up to 12 funds at any one time, but if you decide to pick a Lifestyle Profile, you can only combine this with a with-profits fund. The Lifestyle Profiles are ready-made investment portfolios that invest your money in funds and move them as you get closer to retirement, to try and get you the best possible returns for your goals. If you do not want to choose a fund, Standard Life will automatically invest your money in a Lifestyle Profile depending on goals and risk preferences.

Standard Life charges an annual management charge of 1% of the value of the funds you are invested in each year.

Please note: When you pay into a pension, your capital is at risk.

GO TO SITE

Best Private Pension Providers UK

Compare some of the best private pension providers in the UK below.

You usually can't access the money in your pension pot until you are at least 55 years old (increases to 57 in 2028) when you can take 25% as a tax-free lump sum.

Capital at risk. Other charges apply.


Interactive Investor - One free trade every month; Lots of research

Interactive Investor
Product
SIPP
Account Type
DIY & Ready-made
Minimum Contribution
£0
Annual Platform Fee
 £240 (£19.99 per month)

Interactive Investor is the UK's number one flat-fee investment platform with more than 40,000 investments to choose from, including UK and overseas shares, funds, investment trusts and ETFs. The Interactive Investor Pension allows you to build a pension in one of two ways depending on your investing savviness: Beginner investors or those who prefer to choose a ready-made investment portfolio can build their pension pot using Quick-start Funds, which is an easy way to start investing where you choose from six low-cost funds prepared by the team of experts at Interactive Investor. Advanced or more confident investors can choose from a wide range of funds and shares and build their pension portfolios themselves. With Interactive Investor, You can combine your other pensions into one SIPP for simpler retirement planning. You also get a free trade every month, which you can use to buy or sell any investment. When you reach the retirement age of 55 (57 from 2028), Interactive Investor will provide a range of options for taking an income from your pension, and there is no extra charge for this.

Interactive Investor charges a flat fee of £19.99 (platform fee of £9.99 + SIPP fee of £10) per month, so you know exactly how much you will be paying each month. The higher your pension pot, the lower this fee becomes on a percentage basis. Your monthly fee also allows you to open a Stocks and Shares ISA and General Trading Account at no extra cost, so you can take control of your other investments too.

Special offer: Open a SIPP and pay no SIPP admin fee for 6 months. Terms apply.

Please note: When you pay into a pension, your capital is at risk.

GO TO SITE

Hargreaves Lansdown - Lots of investment options, research and tips

Hargreaves Lansdown
Product
SIPP
Account Type
DIY & Ready-made
Minimum Contribution
£100 lump sum or £25 per month
Annual Platform Fee
0.45% - 0% (Funds)
0.45% (Shares - max £200/year)

Hargreaves Lansdown is a FTSE 100 company and the biggest investment platform in the UK. Hargreaves Lansdown allows you to build a SIPP portfolio from over 2,500 funds, UK and overseas shares, investment trusts and more. With Hargreaves Lansdown, you can build your pension portfolio in one of two ways depending on your investing savviness: Beginner investors or those who prefer to choose a ready-made investment portfolio can build their pension pot by choosing from a range of ready-made options where the team of experts at Hargreaves Lansdown will take care of the day-to-day investment decisions for you. Advanced or more confident investors can choose from a wide range of funds, shares and other investments and build their pension portfolios themselves.

The Hargreaves Lansdown SIPP is free to set up and low cost to run. There is a yearly charge for holding investments, but it is never more than 0.45%. Some of the investments on offer have their own annual charges, so please check these before investing. It is also free to buy and sell funds. Other dealing charges depend on the type of investment and how often you trade. If you need a financial adviser to help you choose investments, Hargreaves Lansdown offers a financial advice service at a fee. Hargreaves Lansdown also offers a Stocks and Shares ISA, Lifetime ISA, Junior ISA and Fund and Share Account.

Please note: The Hargreaves Lansdown SIPP is intended for investors happy at making their own investment decisions. When you pay into a pension, your capital is at risk. The charges quoted here are not exhaustive - other charges apply.

GO TO SITE

AJ Bell Youinvest - Lots of investment options, ideas and research

AJ Bell Youinvest
Product
SIPP
Account Type
DIY & Ready-made
Minimum Contribution
£1,000 lump-sum. No minimum for a regular payment
Annual Platform Fee
0.25% - 0% (Funds)
0.25% (Shares - max £10/month)

AJ Bell Youinvest is one of the UK’s largest online investment platforms, and it is on a mission to make investing as easy as possible for you. AJ Bell Youinvest was the first investment company in the UK to offer an online SIPP. Investors can select from thousands of investments, including UK and overseas shares, funds, investment trusts and ETFs. With AJ Bell Youinvest, you can build your pension portfolio in one of two ways depending on your investing savviness: Beginner investors or those who prefer to choose a ready-made investment portfolio can get a little, or a lot, of help from AJ Bell Youinvest’s specialists by selecting one of the investment ideas on offer. Advanced or more confident investors can choose from thousands of investments and build their pension portfolios themselves. The AJ Bell Youinvest SIPP is suitable for both the self-employed and those looking to open a personal pension to complement their workplace pension. AJ Bell Youinvest also lets you combine your existing pensions in a SIPP, so you can see and control everything in one place. This helps you understand how your pension is performing and exactly what you're paying in charges.

It’s free to open an AJ Bell Youinvest SIPP, and you can buy investments from as little as £1.50. There is a yearly charge for holding investments, but it is never more than 0.25%. AJ Bell Youinvest also offers a Stocks and Shares ISA, Lifetime ISA, Junior ISA and Dealing Account. AJ Bell Youinvest does not offer advice.

Please note: When you pay into a pension, your capital is at risk. Pension rules also apply.

GO TO SITE

Penfold - SIPP & Workplace Pensions; Ethical investments available

Penfold Pensions Logo
Product
SIPP
Account Type
Ready-made
Minimum Contribution
£0
Annual Platform Fee
0.88% - 0.75%
(0.4% or 0.53% on pots over £100k)

Penfold is a modern pension provider offering customers a quick and easy way to build and contribute to their pension pots. The platform is digital-first and built for everyone regardless of whether you are employed, self-employed or running your own business. With Penfold, you can open a private pension, self-employed pension or be auto-enrolled via your workplace. Once you sign up, you can choose from four plans: Lifetime, Standard, Sustainable and Sharia, depending on your goals and values. Set up only takes 5 minutes, and you can adjust your contributions at any time. Penfold can also track and transfer your old pensions - even if you do not know the details, so you can combine all your pensions from previous employments in one place. If you are ever confused about anything relating to your pension or retirement, they have a team of experts happy to provide jargon-free answers to your questions.

There is no minimum deposit when you set up your pension with Penfold, and you can pay nothing each month if you like. If you do make a contribution, the minimum amount Penfold can process is £10. Penfold charges an annual fee between 0.75% and 0.88%, depending on the plan you choose. If your pension pot size is larger than £100,000 the fee is reduced to either 0.4% or 0.53%, depending on the plan you choose, on the portion of your savings over this amount.

Please note: When you pay into a pension, your capital is at risk.

GO TO SITE

Moneyfarm - Offers financial advice and ethical investments

Moneyfarm Logo
Product
SIPP
Account Type
Ready-made
Minimum Contribution
£500
Annual Platform Fee
0.75% - 0.35%

Moneyfarm is a UK robo advisor that provides you with a personalised investment plan based on your risk preferences. Investors can choose from seven globally diversified risk-rated portfolios, including ethical investments. The team at Moneyfarm actively manages your investments, but each investment portfolio is made up of exchange-traded funds (ETFs) and other passive trackers. Customers also benefit from free and personalised digital financial advice from Moneyfarm's investment consultants, and you can chat, phone, email, or meet your consultant in person. If you tell Moneyfarm when you aim to retire, the team will manage your portfolio around your target retirement date - reducing your risk as the date approaches. It is easy to transfer your existing pensions to Moneyfarm. Just fill in your details in-app or online. Moneyfarm will then talk to your existing provider and move your pensions over to your Moneyfarm account. The process typically takes about 3 - 4 weeks and is as paperless as possible, depending on your provider. When you reach the retirement age of 55 (57 from 2028), Moneyfarm will provide a range of flexible options for taking an income from your pension. This is called a pension drawdown, and there is no extra charge for it.

Moneyfarm charges a yearly account management fee starting at 0.75% and reducing to 0.35% depending on the size of your portfolio. The annual average investment fund fee is 0.2%, and the annual effect of market spread comes to about 0.09%. Moneyfarm has other products, including a Stocks and Shares ISA and General Investment Account.

Please note: When you pay into a pension, your capital is at risk.

GO TO SITE

Vanguard - Offers financial planning and educational resources

Vanguard Investor'
Product
SIPP
Account Type
DIY & Ready-made
Minimum Contribution
£500 lump sum or £100 per month
Annual Platform Fee
0.15% (max £375/year)

Vanguard is a popular low-cost investment platform with over 75 own-brand funds, including ETFs, active funds and index funds. Vanguard does not offer stocks and shares, but there are various ETFs on offer for those interested in exchange-traded securities. The Vanguard SIPP allows you to build a pension in one of two ways depending on your investing savviness: Beginner investors or those who prefer to choose a ready-made investment portfolio can build their pension pot by selecting one of the Target Retirement funds, which give you access to thousands of bonds and shares in a single investment. Advanced or more confident investors can choose from over 75 individual Vanguard funds and build their pension portfolios themselves. It is pretty straightforward to transfer your existing pensions to Vanguard, and it is completely free to do so - although your existing provider might charge you a fee, so do check with them first.

To open a Vanguard SIPP, you need to have at least £100 per month or a lump sum of £500. There is a yearly management fee of 0.15% (capped at £375) per year. Some of the funds on offer have separate charges, so please check these before investing. Vanguard has other products, including a Stocks and Shares ISA, Junior ISA, General Account and Personal Financial Planning.

Please note: When you pay into a pension, your capital is at risk.

GO TO SITE

Aviva - Ready-made stakeholder pension; Offers financial advice

Aviva's Logo
Product
Stakeholder Pension
Account Type
Ready-made
Minimum Contribution
£20 per month
Annual Fund Management Cost
Capped at 1%

The Aviva Stakeholder Pension allows you to invest your money in a range of funds that offer you access to various assets such as stocks, shares and property. And you can choose from a range of high to low risk funds, depending on your attitude to risk. With Aviva, you can start your Stakeholder Pension with as little as £20 a month, and pay money into your pension plan either regularly, e.g. every month, or make one-off payments. You can also change that amount or stop and start payments when you need to. When you reach the retirement age of 55 (57 from 2028), you will have a number of options about how you can use your pension savings, including taking an income, lump sum or a combination of both of these. The Aviva Stakeholder pension also lets you create a pension pot for your children or grandchildren. You can deposit up to £2,880 for each child per year.

With Aviva, you pay only an annual fund charge, which is capped at 1%. And you will not have to pay any charges for setting up your investment or for switching money between funds. Aviva offers financial advice at a separate fee.

Please note: When you pay into a pension, your capital is at risk.

GO TO SITE

Standard Life - DIY and ready-made stakeholder pension

Standard Life
Product
Stakeholder Pension
Account Type
DIY & Ready-made
Minimum Contribution
£16
Annual Fund Management Cost
Capped at 1%

The Standard Life Stakeholder Pension allows you to invest your money in 30+ funds and 2 Lifestyle Profiles. You can invest in up to 12 funds at any one time, but if you decide to pick a Lifestyle Profile, you can only combine this with a with-profits fund. The Lifestyle Profiles are ready-made investment portfolios that invest your money in funds and move them as you get closer to retirement, to try and get you the best possible returns for your goals. If you do not want to choose a fund, Standard Life will automatically invest your money in a Lifestyle Profile depending on goals and risk preferences.

Standard Life charges an annual management charge of 1% of the value of the funds you are invested in each year.

Please note: When you pay into a pension, your capital is at risk.

GO TO SITE

Best Pension Providers for Self-employed People

Compare some of the best pension providers for self-employed people below:

You usually can't access the money in your pension pot until you are at least 55 years old (increases to 57 in 2028) when you can take 25% as a tax-free lump sum.

Capital at risk. Other charges apply.

AJ Bell Youinvest - Lots of investment options, ideas and research

AJ Bell Youinvest
Product
SIPP
Account Type
DIY & Ready-made
Minimum Contribution
£1,000 lump-sum. No minimum for a regular payment
Annual Platform Fee
0.25% - 0% (Funds)
0.25% (Shares - max £10/month)

AJ Bell Youinvest is one of the UK’s largest online investment platforms, and it is on a mission to make investing as easy as possible for you. AJ Bell Youinvest was the first investment company in the UK to offer an online SIPP. Investors can select from thousands of investments, including UK and overseas shares, funds, investment trusts and ETFs. With AJ Bell Youinvest, you can build your pension portfolio in one of two ways depending on your investing savviness: Beginner investors or those who prefer to choose a ready-made investment portfolio can get a little, or a lot, of help from AJ Bell Youinvest’s specialists by selecting one of the investment ideas on offer. Advanced or more confident investors can choose from thousands of investments and build their pension portfolios themselves. The AJ Bell Youinvest SIPP is suitable for both the self-employed and those looking to open a personal pension to complement their workplace pension. AJ Bell Youinvest also lets you combine your existing pensions in a SIPP, so you can see and control everything in one place. This helps you understand how your pension is performing and exactly what you're paying in charges.

It’s free to open an AJ Bell Youinvest SIPP, and you can buy investments from as little as £1.50. There is a yearly charge for holding investments, but it is never more than 0.25%. AJ Bell Youinvest also offers a Stocks and Shares ISA, Lifetime ISA, Junior ISA and Dealing Account. AJ Bell Youinvest does not offer advice.

Please note: When you pay into a pension, your capital is at risk. Pension rules also apply.

GO TO SITE

Hargreaves Lansdown - Lots of investment options, research and tips

Hargreaves Lansdown
Product
SIPP
Account Type
DIY & Ready-made
Minimum Contribution
£100 lump sum or £25 per month
Annual Platform Fee
0.45% - 0% (Funds)
0.45% (Shares - max £200/year)

Hargreaves Lansdown is a FTSE 100 company and the biggest investment platform in the UK. Hargreaves Lansdown allows you to build a SIPP portfolio from over 2,500 funds, UK and overseas shares, investment trusts and more. With Hargreaves Lansdown, you can build your pension portfolio in one of two ways depending on your investing savviness: Beginner investors or those who prefer to choose a ready-made investment portfolio can build their pension pot by choosing from a range of ready-made options where the team of experts at Hargreaves Lansdown will take care of the day-to-day investment decisions for you. Advanced or more confident investors can choose from a wide range of funds, shares and other investments and build their pension portfolios themselves.

The Hargreaves Lansdown SIPP is free to set up and low cost to run. There is a yearly charge for holding investments, but it is never more than 0.45%. Some of the investments on offer have their own annual charges, so please check these before investing. It is also free to buy and sell funds. Other dealing charges depend on the type of investment and how often you trade. If you need a financial adviser to help you choose investments, Hargreaves Lansdown offers a financial advice service at a fee. Hargreaves Lansdown also offers a Stocks and Shares ISA, Lifetime ISA, Junior ISA and Fund and Share Account.

Please note: The Hargreaves Lansdown SIPP is intended for investors happy at making their own investment decisions. When you pay into a pension, your capital is at risk. The charges quoted here are not exhaustive - other charges apply.

GO TO SITE

Interactive Investor - One free trade every month; Lots of research

Interactive Investor
Product
SIPP
Account Type
DIY & Ready-made
Minimum Contribution
£0
Annual Platform Fee
 £240 (£19.99 per month)

Interactive Investor is the UK's number one flat-fee investment platform with more than 40,000 investments to choose from, including UK and overseas shares, funds, investment trusts and ETFs. The Interactive Investor Pension allows you to build a pension in one of two ways depending on your investing savviness: Beginner investors or those who prefer to choose a ready-made investment portfolio can build their pension pot using Quick-start Funds, which is an easy way to start investing where you choose from six low-cost funds prepared by the team of experts at Interactive Investor. Advanced or more confident investors can choose from a wide range of funds and shares and build their pension portfolios themselves. With Interactive Investor, You can combine your other pensions into one SIPP for simpler retirement planning. You also get a free trade every month, which you can use to buy or sell any investment. When you reach the retirement age of 55 (57 from 2028), Interactive Investor will provide a range of options for taking an income from your pension, and there is no extra charge for this.

Interactive Investor charges a flat fee of £19.99 (platform fee of £9.99 + SIPP fee of £10) per month, so you know exactly how much you will be paying each month. The higher your pension pot, the lower this fee becomes on a percentage basis. Your monthly fee also allows you to open a Stocks and Shares ISA and General Trading Account at no extra cost, so you can take control of your other investments too.

Special offer: Open a SIPP and pay no SIPP admin fee for 6 months. Terms apply.

Please note: When you pay into a pension, your capital is at risk.

GO TO SITE

Moneyfarm - Offers financial advice and ethical investments

Moneyfarm Logo
Product
SIPP
Account Type
Ready-made
Minimum Contribution
£500
Annual Platform Fee
0.75% - 0.35%

Moneyfarm is a UK robo advisor that provides you with a personalised investment plan based on your risk preferences. Investors can choose from seven globally diversified risk-rated portfolios, including ethical investments. The team at Moneyfarm actively manages your investments, but each investment portfolio is made up of exchange-traded funds (ETFs) and other passive trackers. Customers also benefit from free and personalised digital financial advice from Moneyfarm's investment consultants, and you can chat, phone, email, or meet your consultant in person. If you tell Moneyfarm when you aim to retire, the team will manage your portfolio around your target retirement date - reducing your risk as the date approaches. It is easy to transfer your existing pensions to Moneyfarm. Just fill in your details in-app or online. Moneyfarm will then talk to your existing provider and move your pensions over to your Moneyfarm account. The process typically takes about 3 - 4 weeks and is as paperless as possible, depending on your provider. When you reach the retirement age of 55 (57 from 2028), Moneyfarm will provide a range of flexible options for taking an income from your pension. This is called a pension drawdown, and there is no extra charge for it.

Moneyfarm charges a yearly account management fee starting at 0.75% and reducing to 0.35% depending on the size of your portfolio. The annual average investment fund fee is 0.2%, and the annual effect of market spread comes to about 0.09%. Moneyfarm has other products, including a Stocks and Shares ISA and General Investment Account.

Please note: When you pay into a pension, your capital is at risk.

GO TO SITE

Penfold - SIPP & Workplace Pensions; Ethical investments available

Penfold Pensions Logo
Product
SIPP
Account Type
Ready-made
Minimum Contribution
£0
Annual Platform Fee
0.88% - 0.75%
(0.4% or 0.53% on pots over £100k)

Penfold is a modern pension provider offering customers a quick and easy way to build and contribute to their pension pots. The platform is digital-first and built for everyone regardless of whether you are employed, self-employed or running your own business. With Penfold, you can open a private pension, self-employed pension or be auto-enrolled via your workplace. Once you sign up, you can choose from four plans: Lifetime, Standard, Sustainable and Sharia, depending on your goals and values. Set up only takes 5 minutes, and you can adjust your contributions at any time. Penfold can also track and transfer your old pensions - even if you do not know the details, so you can combine all your pensions from previous employments in one place. If you are ever confused about anything relating to your pension or retirement, they have a team of experts happy to provide jargon-free answers to your questions.

There is no minimum deposit when you set up your pension with Penfold, and you can pay nothing each month if you like. If you do make a contribution, the minimum amount Penfold can process is £10. Penfold charges an annual fee between 0.75% and 0.88%, depending on the plan you choose. If your pension pot size is larger than £100,000 the fee is reduced to either 0.4% or 0.53%, depending on the plan you choose, on the portion of your savings over this amount.

Please note: When you pay into a pension, your capital is at risk.

GO TO SITE

Vanguard - Offers financial planning and educational resources

Vanguard Investor'
Product
SIPP
Account Type
DIY & Ready-made
Minimum Contribution
£500 lump sum or £100 per month
Annual Platform Fee
0.15% (max £375/year)

Vanguard is a popular low-cost investment platform with over 75 own-brand funds, including ETFs, active funds and index funds. Vanguard does not offer stocks and shares, but there are various ETFs on offer for those interested in exchange-traded securities. The Vanguard SIPP allows you to build a pension in one of two ways depending on your investing savviness: Beginner investors or those who prefer to choose a ready-made investment portfolio can build their pension pot by selecting one of the Target Retirement funds, which give you access to thousands of bonds and shares in a single investment. Advanced or more confident investors can choose from over 75 individual Vanguard funds and build their pension portfolios themselves. It is pretty straightforward to transfer your existing pensions to Vanguard, and it is completely free to do so - although your existing provider might charge you a fee, so do check with them first.

To open a Vanguard SIPP, you need to have at least £100 per month or a lump sum of £500. There is a yearly management fee of 0.15% (capped at £375) per year. Some of the funds on offer have separate charges, so please check these before investing. Vanguard has other products, including a Stocks and Shares ISA, Junior ISA, General Account and Personal Financial Planning.

Please note: When you pay into a pension, your capital is at risk.

GO TO SITE

Aviva - Ready-made stakeholder pension; Offers financial advice

Aviva's Logo
Product
Stakeholder Pension
Account Type
Ready-made
Minimum Contribution
£20 per month
Annual Fund Management Cost
Capped at 1%

The Aviva Stakeholder Pension allows you to invest your money in a range of funds that offer you access to various assets such as stocks, shares and property. And you can choose from a range of high to low risk funds, depending on your attitude to risk. With Aviva, you can start your Stakeholder Pension with as little as £20 a month, and pay money into your pension plan either regularly, e.g. every month, or make one-off payments. You can also change that amount or stop and start payments when you need to. When you reach the retirement age of 55 (57 from 2028), you will have a number of options about how you can use your pension savings, including taking an income, lump sum or a combination of both of these. The Aviva Stakeholder pension also lets you create a pension pot for your children or grandchildren. You can deposit up to £2,880 for each child per year.

With Aviva, you pay only an annual fund charge, which is capped at 1%. And you will not have to pay any charges for setting up your investment or for switching money between funds. Aviva offers financial advice at a separate fee.

Please note: When you pay into a pension, your capital is at risk.

GO TO SITE

Standard Life - DIY and ready-made stakeholder pension

Standard Life
Product
Stakeholder Pension
Account Type
DIY & Ready-made
Minimum Contribution
£16
Annual Fund Management Cost
Capped at 1%

The Standard Life Stakeholder Pension allows you to invest your money in 30+ funds and 2 Lifestyle Profiles. You can invest in up to 12 funds at any one time, but if you decide to pick a Lifestyle Profile, you can only combine this with a with-profits fund. The Lifestyle Profiles are ready-made investment portfolios that invest your money in funds and move them as you get closer to retirement, to try and get you the best possible returns for your goals. If you do not want to choose a fund, Standard Life will automatically invest your money in a Lifestyle Profile depending on goals and risk preferences.

Standard Life charges an annual management charge of 1% of the value of the funds you are invested in each year.

Please note: When you pay into a pension, your capital is at risk.

GO TO SITE

Frequently Asked Questions

1. Are stakeholder pensions still available?

Yes, stakeholder pensions are still available. You can get a stakeholder pension from companies like Aviva and Standard Life above.

2. How much can I pay into a stakeholder pension?

You can pay 100% of your earnings into your stakeholder pension every tax year up to a maximum of £40,000. The £40,000 limit is known as your annual allowance, and it is the maximum amount you can pay into any pension in one tax year and benefit from tax relief.

3. Can you cash in a stakeholder pension early?

You usually can't cash in your stakeholder pension pot before you're 55 years old (increases to 57 in 2028), but there are some rare cases when you can, e.g., if you are too ill to work or if you have a severe illness which means you're expected to live for less than a year.


In the case of the State Pension, the earliest you can get that is when you reach your State Pension age. If you're currently aged between 20 and 39, your State Pension age will likely be 68. If you retire before this age, you'll have to wait to claim your State Pension.

If you have more questions, ask the community!

You might also like 🤓

  1. Stakeholder Pension vs SIPP
  2. Best Pension Providers
  3. Best Pension for Self-employed People
  4. Workplace Pension
  5. Introduction to Pensions
  6. Best Stocks and Shares ISA
  7. Best Money Saving Apps
  8. Best Budgeting Apps
  9. Compare Robo Advisors
  10. Investing for Beginners


Credits 

  1. Gov.uk
  2. Money Advice Service
  3. The Pensions Advisory Service


Best SIPP Providers

Compare some of the best SIPP providers in the UK below.

You usually can't access the money in your pension pot until you are at least 55 years old (increases to 57 in 2028), when you can take 25% as a tax-free lump sum.


Capital at risk. Other charges apply.

Interactive Investor - One free trade every month; Lots of research

Interactive Investor
Product
SIPP
Account Type
DIY & Ready-made
Minimum Contribution
£0
Annual Platform Fee
 £240 (£19.99 per month)

Interactive Investor is the UK's number one flat-fee investment platform with more than 40,000 investments to choose from, including UK and overseas shares, funds, investment trusts and ETFs. The Interactive Investor Pension allows you to build a pension in one of two ways depending on your investing savviness: Beginner investors or those who prefer to choose a ready-made investment portfolio can build their pension pot using Quick-start Funds, which is an easy way to start investing where you choose from six low-cost funds prepared by the team of experts at Interactive Investor. Advanced or more confident investors can choose from a wide range of funds and shares and build their pension portfolios themselves. With Interactive Investor, You can combine your other pensions into one SIPP for simpler retirement planning. You also get a free trade every month, which you can use to buy or sell any investment. When you reach the retirement age of 55 (57 from 2028), Interactive Investor will provide a range of options for taking an income from your pension, and there is no extra charge for this.

Interactive Investor charges a flat fee of £19.99 (platform fee of £9.99 + SIPP fee of £10) per month, so you know exactly how much you will be paying each month. The higher your pension pot, the lower this fee becomes on a percentage basis. Your monthly fee also allows you to open a Stocks and Shares ISA and General Trading Account at no extra cost, so you can take control of your other investments too.

Special offer: Open a SIPP and pay no SIPP admin fee for 6 months. Terms apply.

Please note: When you pay into a pension, your capital is at risk.

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AJ Bell Youinvest - Lots of investment options, ideas and research

AJ Bell Youinvest
Product
SIPP
Account Type
DIY & Ready-made
Minimum Contribution
£1,000 lump-sum. No minimum for a regular payment
Annual Platform Fee
0.25% - 0% (Funds)
0.25% (Shares - max £10/month)

AJ Bell Youinvest is one of the UK’s largest online investment platforms, and it is on a mission to make investing as easy as possible for you. AJ Bell Youinvest was the first investment company in the UK to offer an online SIPP. Investors can select from thousands of investments, including UK and overseas shares, funds, investment trusts and ETFs. With AJ Bell Youinvest, you can build your pension portfolio in one of two ways depending on your investing savviness: Beginner investors or those who prefer to choose a ready-made investment portfolio can get a little, or a lot, of help from AJ Bell Youinvest’s specialists by selecting one of the investment ideas on offer. Advanced or more confident investors can choose from thousands of investments and build their pension portfolios themselves. The AJ Bell Youinvest SIPP is suitable for both the self-employed and those looking to open a personal pension to complement their workplace pension. AJ Bell Youinvest also lets you combine your existing pensions in a SIPP, so you can see and control everything in one place. This helps you understand how your pension is performing and exactly what you're paying in charges.

It’s free to open an AJ Bell Youinvest SIPP, and you can buy investments from as little as £1.50. There is a yearly charge for holding investments, but it is never more than 0.25%. AJ Bell Youinvest also offers a Stocks and Shares ISA, Lifetime ISA, Junior ISA and Dealing Account. AJ Bell Youinvest does not offer advice.

Please note: When you pay into a pension, your capital is at risk. Pension rules also apply.

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Hargreaves Lansdown - Lots of investment options, research and tips

Hargreaves Lansdown
Product
SIPP
Account Type
DIY & Ready-made
Minimum Contribution
£100 lump sum or £25 per month
Annual Platform Fee
0.45% - 0% (Funds)
0.45% (Shares - max £200/year)

Hargreaves Lansdown is a FTSE 100 company and the biggest investment platform in the UK. Hargreaves Lansdown allows you to build a SIPP portfolio from over 2,500 funds, UK and overseas shares, investment trusts and more. With Hargreaves Lansdown, you can build your pension portfolio in one of two ways depending on your investing savviness: Beginner investors or those who prefer to choose a ready-made investment portfolio can build their pension pot by choosing from a range of ready-made options where the team of experts at Hargreaves Lansdown will take care of the day-to-day investment decisions for you. Advanced or more confident investors can choose from a wide range of funds, shares and other investments and build their pension portfolios themselves.

The Hargreaves Lansdown SIPP is free to set up and low cost to run. There is a yearly charge for holding investments, but it is never more than 0.45%. Some of the investments on offer have their own annual charges, so please check these before investing. It is also free to buy and sell funds. Other dealing charges depend on the type of investment and how often you trade. If you need a financial adviser to help you choose investments, Hargreaves Lansdown offers a financial advice service at a fee. Hargreaves Lansdown also offers a Stocks and Shares ISA, Lifetime ISA, Junior ISA and Fund and Share Account.

Please note: The Hargreaves Lansdown SIPP is intended for investors happy at making their own investment decisions. When you pay into a pension, your capital is at risk. The charges quoted here are not exhaustive - other charges apply.

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Penfold - SIPP & Workplace Pensions; Ethical investments available

Penfold Pensions Logo
Product
SIPP
Account Type
Ready-made
Minimum Contribution
£0
Annual Platform Fee
0.88% - 0.75%
(0.4% or 0.53% on pots over £100k)

Penfold is a modern pension provider offering customers a quick and easy way to build and contribute to their pension pots. The platform is digital-first and built for everyone regardless of whether you are employed, self-employed or running your own business. With Penfold, you can open a private pension, self-employed pension or be auto-enrolled via your workplace. Once you sign up, you can choose from four plans: Lifetime, Standard, Sustainable and Sharia, depending on your goals and values. Set up only takes 5 minutes, and you can adjust your contributions at any time. Penfold can also track and transfer your old pensions - even if you do not know the details, so you can combine all your pensions from previous employments in one place. If you are ever confused about anything relating to your pension or retirement, they have a team of experts happy to provide jargon-free answers to your questions.

There is no minimum deposit when you set up your pension with Penfold, and you can pay nothing each month if you like. If you do make a contribution, the minimum amount Penfold can process is £10. Penfold charges an annual fee between 0.75% and 0.88%, depending on the plan you choose. If your pension pot size is larger than £100,000 the fee is reduced to either 0.4% or 0.53%, depending on the plan you choose, on the portion of your savings over this amount.

Please note: When you pay into a pension, your capital is at risk.

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Moneyfarm - Offers financial advice and ethical investments

Moneyfarm Logo
Product
SIPP
Account Type
Ready-made
Minimum Contribution
£500
Annual Platform Fee
0.75% - 0.35%

Moneyfarm is a UK robo advisor that provides you with a personalised investment plan based on your risk preferences. Investors can choose from seven globally diversified risk-rated portfolios, including ethical investments. The team at Moneyfarm actively manages your investments, but each investment portfolio is made up of exchange-traded funds (ETFs) and other passive trackers. Customers also benefit from free and personalised digital financial advice from Moneyfarm's investment consultants, and you can chat, phone, email, or meet your consultant in person. If you tell Moneyfarm when you aim to retire, the team will manage your portfolio around your target retirement date - reducing your risk as the date approaches. It is easy to transfer your existing pensions to Moneyfarm. Just fill in your details in-app or online. Moneyfarm will then talk to your existing provider and move your pensions over to your Moneyfarm account. The process typically takes about 3 - 4 weeks and is as paperless as possible, depending on your provider. When you reach the retirement age of 55 (57 from 2028), Moneyfarm will provide a range of flexible options for taking an income from your pension. This is called a pension drawdown, and there is no extra charge for it.

Moneyfarm charges a yearly account management fee starting at 0.75% and reducing to 0.35% depending on the size of your portfolio. The annual average investment fund fee is 0.2%, and the annual effect of market spread comes to about 0.09%. Moneyfarm has other products, including a Stocks and Shares ISA and General Investment Account.

Please note: When you pay into a pension, your capital is at risk.

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Vanguard - Offers financial planning and educational resources

Vanguard Investor'
Product
SIPP
Account Type
DIY & Ready-made
Minimum Contribution
£500 lump sum or £100 per month
Annual Platform Fee
0.15% (max £375/year)

Vanguard is a popular low-cost investment platform with over 75 own-brand funds, including ETFs, active funds and index funds. Vanguard does not offer stocks and shares, but there are various ETFs on offer for those interested in exchange-traded securities. The Vanguard SIPP allows you to build a pension in one of two ways depending on your investing savviness: Beginner investors or those who prefer to choose a ready-made investment portfolio can build their pension pot by selecting one of the Target Retirement funds, which give you access to thousands of bonds and shares in a single investment. Advanced or more confident investors can choose from over 75 individual Vanguard funds and build their pension portfolios themselves. It is pretty straightforward to transfer your existing pensions to Vanguard, and it is completely free to do so - although your existing provider might charge you a fee, so do check with them first.

To open a Vanguard SIPP, you need to have at least £100 per month or a lump sum of £500. There is a yearly management fee of 0.15% (capped at £375) per year. Some of the funds on offer have separate charges, so please check these before investing. Vanguard has other products, including a Stocks and Shares ISA, Junior ISA, General Account and Personal Financial Planning.

Please note: When you pay into a pension, your capital is at risk.

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