Stakeholder Pension questions

jamborino

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

dunstonh

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).

jamborino

Wow, that was a mighty quick response!

Many thanks dunstonh.