What charges do I have to pay?
We charge fees for managing your plan and looking after your investments, as well as on some of our externally managed funds, but these must not exceed 1.5% of the total fund value each year. We deduct the charges from your plan and you don't have to pay any additional charges.
What are the tax advantages?
Contributions within tax relievable limits get income tax relief at the basic rate, even if the member is not a taxpayer. This means that currently for every £100 invested into your fund, you only have to pay £80. The other £20 comes from the Revenue*.
Is it possible to change funds during the life of the pension plan?
Yes, you can change the funds you're invested in at any time.
Are there any risks involved?
There are risks involved in any investment. It's possible that the value of the fund may go down as well as up for reasons such as investment performance. Pension benefits are not guaranteed.
What happens if I die before I retire?
If you die before you retire we'll pay the value of your fund as a cash lump sum. If you've arranged your plan under trust, we'll pay the lump sum to the trustees. If it's not arranged under trust we'll decide who to pay the lump sum to. We take into account your circumstances when you die and anyone you've previously stated you want the money to go to.
The lump sum death benefits will be tested against the lifetime allowance and a tax charge of 55% will be payable on any excess.
You can opt to have your death benefits paid as a pension to your husband, wife, civil partner or dependant(s). If paid as a pension, it wouldn't be tested against the lifetime allowance and there would be no tax charge.
What's special about AEGON Scottish Equitable stakeholder pensions?
Over 170 years, we've built a reputation for expert and effective money management. Both our fund management and our personal service are designed to meet our customers' needs and our exceptional performance has been recognised by several awards.
* This information is based on our understanding of current taxation law and Revenue practice, which may change. The value of tax relief depends on your financial circumstances.
Next steps
If this sounds interesting to you, you’ll want to know what to do next.
Further information... Who should I talk to?
Speak to your financial adviser to find out more. If you don't have an adviser, the IFA Promotion Service or the Society of Financial Advisers can help you find one.
