Note:"employees" includes company directors

WHY SHOULD I CONSIDER A STAKEHOLDER PENSION?

Whilst the Basic State Pension is payable to those who have made the necessary national insurance contributions, many people will be concerned that it will not provide sufficient income in retirement if they have not also made other pension arrangements.

The stakeholder scheme is designed to help fill the gap.

Remember that the current State pension for a single person is only £90.70 per week (2008/09) and that life expectancy is growing.

WHAT SHALL I DO?

First, talk to us or ask your employer to contact us about the options available to you.

If you are already a member of a pension scheme offered by your employer, then you would normally be wise to remain a member.

If your employer has (or intends to start) a pension scheme, you should consider joining it.

If your employer does not have a pension scheme and will be exempt from setting up a stakeholder pension, you should consider taking out your own - we would be delighted to advise you.

You can pay into a stakeholder scheme even if you are not working, either 100% of earnings (up to the Annual Allowance) or £3,600 per annum can be invested whichever is the higher.