stakeholder pension
A money purchase scheme designed to provide retirement benefits, mainly for employees or the self-employed. It must be registered with the Pensions Regulator. If an employer with five or more employees does not provide an occupational pension scheme for its employees nor contribute at least 3% of earnings to a group personal pension scheme, it will have to designate a stakeholder pension scheme for its employees and make arrangements for employees' contributions to be deducted from their pay and remitted to the stakeholder scheme provider. The employer is not obliged to make contributions to the scheme.
Related links
multi-employer scheme (multi-employer pension schemes)
stakeholder pension

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Look at other dictionaries:

  • stakeholder pension — noun A type of pension arranged as part of a private scheme complying to certain requirements established by the government • • • Main Entry: ↑stake * * * stakeholder pension UK US noun [countable] [singular stakeholder pension …   Useful english dictionary

  • stakeholder pension — ➔ pension1 * * * stakeholder pension UK US noun [C] FINANCE, HR ► in the UK, a type of personal pension plan introduced in 2001 into which people can make regular payments that are invested to provide them with a pension: »If you employ 5 or more …   Financial and business terms

  • stakeholder pension — stakeholder pensions N COUNT In Britain, a stakeholder pension is a flexible pension scheme with low charges. Both employees and the state contribute to the scheme, which is optional, and is in addition to the basic state pension. [BUSINESS] New… …   English dictionary

  • stakeholder pension — noun count BUSINESS a type of pension in the U.K. for people who do not earn a large salary. They pay money into a FUND that is owned by a private company but controlled by the government …   Usage of the words and phrases in modern English

  • stakeholder pension — (U.K.) Fin, HR a pension, bought from a private company, in which the retirement income depends on the level of contributions made during a person’s working life. Stakeholder pensions are designed for people without access to an occupational… …   The ultimate business dictionary

  • stakeholder pension — UK / US noun [countable] Word forms stakeholder pension : singular stakeholder pension plural stakeholder pensions economics a type of pension in the UK for people who do not earn a large salary. They pay money into a fund that is owned by a… …   English dictionary

  • stakeholder pension — n a type of private pension scheme (= a system where people at work pay money regularly into a fund so that they will receive an income when they retire) introduced in Britain in 2001 which must meet certain standards set by the government. A… …   Universalium

  • stakeholder pension — noun (in the UK) a pension plan which invests the money a person saves and uses the fund on retirement to buy a pension from a pension provider …   English new terms dictionary

  • Stakeholder pension scheme — Stakeholder pension schemes were introduced in the UK in 2001 to encourage more long term saving for retirement, particularly among those on low to moderate earnings. They are required to meet a number of conditions set out in legislation,… …   Wikipedia

  • stakeholder pension scheme — In the UK, a type of low cost pension available from April 2001. Employers with five or more employees have to make a stakeholder pension available to their staff. Stakeholder pensions are bought from authorized financial institutions, such as… …   Accounting dictionary

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