(This archived guidance relates to HMRC discretionary
practice before the 6th April 2006. For current guidance on
Registered Pension Schemes see the Registered Pension Schemes
Manual)
Stakeholder pension schemes (available from 6th April 2001) must meet strict standards set out in section 1 of the Welfare Reform and Pensions Act 1999 and the Stakeholder Pension Schemes Regulations 2000 [SI 2000 No 1403]. For tax purposes a stakeholder pension receives exactly the same treatment as a personal pension scheme. (From 8th October 2001), most employers with five or more employees must offer access to a stakeholder pension scheme if they don’t offer a suitable pension scheme. To enable employers to run stakeholders, should they wish to do so, rather than designate a stakeholder pension scheme run by a financial institution, the pensions tax legislation was changed (from 1st October 2000). Any person may set up a personal pension scheme under trust, whether for stakeholder status or not. If the scheme at any time falls under the definition of a SSAS its rules require a Pensioneer Trustee to be appointed.
