stakeholder pensions

Stakeholder pensions are a type of retirement savings plan designed to be accessible and affordable for a wide range of people, particularly those without workplace pensions. They are regulated to ensure low fees and flexible contributions, allowing individuals to save for retirement in a straightforward manner. Employers can offer these pensions, but they are not mandatory. Stakeholder pensions come with certain benefits, such as the ability to change contributions easily and the option to transfer funds to other pensions if needed. The aim is to encourage more people to save for their future financial security.