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Stakeholder Pension questions
jamborino
Posts: 78 Forumite
Does a Stakeholder pension follow the financial year (i.e., 6 April xxxx to 5 April xxxx) or does it follow the holder's birthday year?
My partner is considering starting an SHP and wants to know if she can contribute the maximum of £2808.00 (net) between now and April 5 this year, and then do the same after?
Also, as she is self-employed she doesn't know at this stage exactly what age she will retire at. Do you have to specify a retirement age at the outset or can it be left open until she has decided nearer the time?
Many thanks.
James
My partner is considering starting an SHP and wants to know if she can contribute the maximum of £2808.00 (net) between now and April 5 this year, and then do the same after?
Also, as she is self-employed she doesn't know at this stage exactly what age she will retire at. Do you have to specify a retirement age at the outset or can it be left open until she has decided nearer the time?
Many thanks.
James
0
Comments
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pension contributions match the tax year. You set a retirement age but you don't have to stick with it and there are no charges/penalty or compulsion to take it age that age as long as its between 55 (as it will be soon) and 75 (although that has potential changes coming too).I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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Wow, that was a mighty quick response!
Many thanks dunstonh.0
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