Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Stakeholder pension definition

What does Stakeholder pension mean? A stakeholder pension is a low‑cost, contract‑based defined contribution (money purchase) personal pension used to help individuals on low to moderate incomes save for retirement with flexible, low minimum payments. The product is set by statute (Welfare Reform and Pensions Act 1999 and the Stakeholder Pension Schemes Regulations 2000, with parallel Northern Ireland provisions). Key legal features include: a cap on annual management charges—currently up to 1.5% a year for the first 10 years of a member’s participation and 1% thereafter; minimum contributions no higher than £20 (including irregular and payroll‑deducted payments); the ability to start, stop or vary contributions without...

Stakeholder pension schemes: pre-1 October 2012 employer designation regime, exemptions, relevant employees, registration and charge caps, enforcement, and continuing payroll deduction obligations (Archived)

Published by a LexisNexis Pensions expert

Practice notes

ARCHIVED : This Practice Note has been archived and is not maintained.

From 8 October 2001, the Welfare Reform and Pensions Act 1999 (wrpa 1999) placed a duty on employers with five or more staff to nominate and enable access to a stakeholder pension arrangement for their workforce as required by applicable law. That designation and access duty, as provided for in WRPA 1999, s 3, was superseded on 1 October 2012, when automatic enrolment into a qualifying scheme, introduced by the Pensions Act 2008, came into legal force. Nonetheless, save where a relevant exception applies, employers remain obliged, for relevant employees, to deduct member contributions to a stakeholder scheme from remuneration and remit them promptly to the trustees or managers. In addition, any existing or newly established stakeholder pension schemes must still be administered in accordance with the statutory rules for such schemes, for example as regards registration and cost. This Practice Note offers an overview of the legislative framework and the operation of stakeholder pension schemes before 1 October 2012, and should be read as background to the position prior to the commencement of automatic enrolment...

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Alistair Hill

Brodies LLP

Alistair is a Legal Director in the Brodies pensions team, where he practices both as an English and as a Scottish solicitor. He helps a broad range of employers, trustees and other professionals with defined benefit and defined contribution pension schemes, including advising on the pensions aspects of corporate transactions and public/private sector staff transfers. From his days in-house at a leading insurer, Alistair has also retained an active interest in developing and maintaining defined contribution pension propositions from the provider's and administrator's viewpoint, such as personal pension, mastertrust and SIPP products. While he would argue passionately that clients shouldn't haven't to worry about them unless they want to, Alistair has always been interested in the more technical aspects of pensions law. Besides his work for LexisPSL, this has led him to play an active role in the professional bodies and more generally in debating law reform and...

Web page updated on 21/05/2026

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