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Stakeholder pensions

What are stakeholder pensions?

A stakeholder pension is a type of pension which came available from April 2001. The Northern Ireland Civil Service (NICS) has appointed Standard Life as its stakeholder pension provider.
You do not have to be a member of the Principal Civil Service Pension Scheme (Northern Ireland) [PCSPS(NI)] to invest in a stakeholder pension. You can contribute, therefore whether you are employed in a permanent or casual basis.
There is no limit to the amount that you can contribute. You will receive tax relief on total pension contributions up to 100% of your taxable earnings, or £3,600 a year, whichever is greater.
For more information telephone the Standard Life helpline on 0800 333305 or visit their web page
Standard Life Stakeholder pensions. External website
Alternatively you can go to a provider of your own choice.
From April 2006 you are able to increase your contributions. However, if this takes you over the Annual Allowance, you will have to report this and pay any extra tax.