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Can I nominate someone else's stakeholder

central
central Posts: 202 Forumite
Part of the Furniture Combo Breaker
in Pensions, annuities & retirement planning
Hi,

I am shortly to start a job which will also have a pension contribution. I am 58. I do not want any more pension, can my employer pay in to another person's stakeholder pension instead of mine?

Thanks

Comments

  • Silvertabby
    Silvertabby Posts: 10,646 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper Photogenic
    edited 5 May 2019 at 2:53PM
    No.


    And why are you refusing free money (ie, your employer's contribution) ?
  • dunstonh
    dunstonh Posts: 121,215 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    I am 58. I do not want any more pension, can my employer pay in to another person's stakeholder pension instead of mine?

    No you can't.

    And the fact you are 58 is not an excuse. Its free money. What is there not to like about free money. It will beat every single alternative.

    We can assume from your post that you spend every penny you earn each month and do not have a single penny in savings/investments and no plan to have any. Maybe then you would have an excuse for not joining the pension.
    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.
  • cloud_dog
    cloud_dog Posts: 6,420 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    dunstonh wrote: »
    We can assume from your post that you spend every penny you earn each month and do not have a single penny in savings/investments and no plan to have any. Maybe then you would have an excuse for not joining the pension.
    I read it the other way, they have sufficient pension/financial arrangements and want someone else to benefit from these contributions.

    As everyone has said, no.
    Personal Responsibility - Sad but True :D

    Sometimes.... I am like a dog with a bone
  • Brynsam
    Brynsam Posts: 3,643 Forumite
    Fifth Anniversary 1,000 Posts Name Dropper Combo Breaker
    cloud_dog wrote: »
    I read it the other way, they have sufficient pension/financial arrangements and want someone else to benefit from these contributions.

    As everyone has said, no.

    Everyone may have said no, but if (and it's a huge 'if') the employer is prepared to do so, then yes!
This discussion has been closed.
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