Key benefits:
- Save for retirement by making regular or lump sum payments
- Receive the benefits at any age from 55 to 75
- Tax efficient saving
- Choice of 2 investment funds
- Option to switch between funds
- Lifestyle option - aims to reduce the risk of sharp falls in the value of your fund in the last years of your plan
- Online access to your plan via My Wesleyan
A plan that allows you to build up a lump sum of money in a tax-efficient way, which you can take as an income when you retire
To find out more about what we can offer in the way of retirement planning, contact your local Financial Consultant. Alternatively leave your details and we'll call you.
We've provided a summary of some of the key facts about the Stakeholder Pension Plan below. You should read the Key Features document for detailed information about the plan. A link to this document is shown at the end of this page.
Facts at a glance:Who can take out a Stakeholder Pension Plan?
You can take out a Wesleyan Stakeholder Pension Plan if you are under 75 and a UK resident for tax purposes.
Who can invest in it?
You, your employer (if you have one), and anyone else can pay into the plan on your behalf. You can also transfer money from other pension plans into your Wesleyan Stakeholder Pension.
How much money can I invest?
The minimum payment is £20. You can pay monthly, yearly or one-off lump sum contributions and increase the amount at any time.
HM Revenue & Customs set limits on the amount you can pay, and anyone else pays on your behalf into all your pension plans. Please refer to the Key Features document for more information about this.
How much will I get back?
The amount of money you get back will depend on how your investments perform.
Where is my money invested?
You can invest in Pensions Managed and Pensions Deposit funds. Please refer to the fund fact sheets on the Fund Prices page for more details about these funds.
Can I switch money between funds?
Yes, you can move money between the Pensions Managed and Pensions Deposit funds.
What is the lifestyling feature?
It involves gradually moving the money built up in the plan, and future contributions into the Pensions Deposit fund when you are five years or less from your selected benefit date. It aims to reduce the risk of sharp falls in the value of your fund.
What happens to the plan when I die?
We will pay the plan value as a lump sum.
What are the charges?
We take an Annual Management Charge of 1.5% of how much your plan is worth each year for the first 10 years, then 1% from year 11 onwards.
More details about the charges are shown in the Key Features document.
Key Feature document
Please use the link to the Key Features document for the Wesleyan Stakeholder Pension for important information about this product