Can i cash in stakeholder pension

You can understand more and change your cookies preferences here. Stakeholder pensions are usually personal pensions, although some employers offer them, too. These pensions differ from other personal pensions because the charges are usually lower and they are more flexible.

Stakeholder pensions have to meet minimum standards set by the government, which makes them different from personal pensions. These standards are:. Flexible contributions — you must be able to stop and start payments when you want and switch providers free of charge. The fund will be invested in stocks and shares, and unlike defined benefit pensions, you can choose from the range of funds to invest in. Once you reach retirement age, you'll either use pension drawdown, buy an annuity or take the lot subject to taxation.

Read more in our guide, options for cashing in your pension. Stakeholder pensions can also be used for auto-enrolment purposes — our guide to Auto-enrolment has more information. Financial Services Limited. Financial Services Limited is a wholly-owned subsidiary of Which? Should I transfer my pension?

Why is my transfer taking so long? Pension transfer charges What is a frozen pension and what are my frozen pension options? How to transfer an overseas pension to the UK. Pension contributions Pension contribution basics Making pension contributions How to check your pension contributions When should I start a pension? How much should I pay into my pension? How to pay a lump sum into a pension How do government pension contributions work? How do I top up my pension? State, personal and workplace Pension contributions for the self-employed Pension contributions from your limited company Pension contributions rules How much can I pay into a pension each year?

Pension contribution limits Pension carry forward rule Pension overpayment Pension contributions while on parental leave. Pension withdrawal Pension withdrawal basics How to withdraw money from a pension fund Can I cash in my pension? Pension lifetime allowance Should I take a lump sum from my pension? What is a deferred pension? What is income drawdown? When can I claim my pension?

The pension withdrawal rules Taking an early pension Income drawdown charges How does pension drawdown tax work? Emergency tax on pensions Early pension release rules Money purchase annual allowance. Pension rules after bankruptcy What happens to my pension if I am made redundant? What happens to my pension if I move abroad? What does capital at risk mean? How much tax do you pay inside IR35 on pension contributions? Pension protections What is the Pension Protection Fund?

What is the FSCS? What is the Pensions Ombudsman? You can get free support from Pension Wise a service from MoneyHelper — online or over the phone. Call Take cash from your pension plan Take cash from your pension plan from age 55 subject to change. Find out how it's taxed and what this could mean for your retirement. Retirement options Take out cash. Want to take cash from your pension plan? How much is tax-free? Not sure if taking cash is the right option for you?

Option Will you get a guaranteed income for life? Does your remaining money stay invested? Can you access your money at any time?

Can you pass on what's left after you die? Want to look at all your options? Retirement pathfinder Our Retirement Pathfinder tool can help you understand how you can take your pension money in a way that suits you. This could be a good option if you're looking for a simple way to save for the future.

With a Stakeholder Pension Plan you will:. Pensions All Pensions Stakeholder Pension. Investment options. You can start, stop or change payments to your pension plan online at any time.