End of Stakeholder Pensions:Personal Account

Pension Bill

Under new proposals in the Pension Bill introduced to Parliament two weeks ago, new proposals will remove the requirement for employers to designate a stakeholder pension scheme, marking the final nail in the coffin for the stakeholder schemes.  

The new proposals will be to auto-enrol employees into a personal account or a “good” pension scheme, where employers will also be obliged to contribute to this scheme.  

Our view

Stakeholder is just another name for private pension.  Whether it is called Personal Account, Personal Pension or Stakeholder Pension, it is still a private pension fund that is linked to investment markets.

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