The Trade Union Congress revealed its plans for a stakeholder pension scheme to be run by Prudential...
The Trade Union Congress revealed its plans for a stakeholder pension scheme to be run by Prudential.
The scheme will look to follow the restrictions under stakeholder, with access to a range of funds, including those offered by other asset management companies.
Contributions start from £10 and the scheme, which allows members to take their pension from job to job without penalty, costs members 0.85% a year of funds under management.
An Isa is also available via the TUC stakeholder pension scheme to encourage younger people to save with the option to move their savings into a stakeholder pension at a later date. The scheme offers payment protection to preserve member's benefits if they are too sick to work or are unemployed.
Standard Life Investments offer two of the scheme's five investment options: the actively managed UK equity select fund and an ethical fund, which invests in UK equities that have been screened to take account of a range of ethical issues.
The TUC stakeholder pension scheme is aimed at trade union members who work for an employer that does not offer an occupational pension scheme.
Targeting intermediary market
Represents £8trn in assets
Simplify and modernise
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