This is not pensions law, it is employment law. If your employer is taken over or merges with another company or your role is outsourced to another employer, and you remain in employment, the pension benefits you’ve already built up in a workplace pension scheme are protected.

Can my employer pay into my stakeholder pension?

If you’re working, your employer may choose to contribute to your stakeholder pension, however they’re not obliged to and it’s possible to set up a stakeholder pension for yourself.

Can I take money out of my stakeholder pension?

When you retire With a stakeholder pension you can either withdraw: Up to 25% as a tax-free lump sum. The entire value of your pension pot – but remember you will be taxed on anything over the initial 25%. Any amount of money as and when you need it.

What happens to a stakeholder pension when you die?

If the deceased hadn’t yet retired: Most schemes will pay out a lump sum that is typically two or four times their salary. If the person who died was under age 75, this lump sum is tax-free. This type of pension usually also pays a taxable ‘survivor’s pension’ to the deceased’s spouse, civil partner or dependent child.

Is a stakeholder pension any good?

If you are self-employed, then a stakeholder pension is often a good idea, because you won’t be automatically enrolled into anything else. Similarly, if you are not working, then it’s a useful place to start with long term investments – not least because of the tax benefits.

When did employers no longer have to designate a stakeholder pension?

The requirement to designate a stakeholder pension scheme stopped on 1 October 2012. From 1 October 2012 (when automatic enrolment started), employers no longer had to designate a stakeholder scheme.

Can a spouse contribute to a stakeholder pension?

In addition to you and your employer, other individuals, such as a spouse or partner, can also contribute to your stakeholder pension and you can contribute to theirs. Group stakeholder pensions: a group stakeholder pension is sometimes offered by an employer and refers to a group of stakeholder pension schemes.

How does a stakeholder pension and salary sacrifice work?

Employer contributions are being made into a stakeholder pension by way of a salary sacrifice. I have two questions. 1. What should the payslip show? At present it shows the original gross pay and a pension deduction, and the pension deduction is against gross pay (rather than net), therefore reducing the PAYE and employees and employers NI. 2.

When did auto enrolment start for stakeholder pension?

Since 1 October 2012, group stakeholder pension schemes have largely been replaced by Auto-Enrolment. If you joined an employer’s group stakeholder pension scheme before Auto-Enrolment was introduced and are still contributing to it, your employer is obliged to process your payments until you stop paying into the scheme or leave your job.