Stakeholder pensions work in the same way as personal pension arrangements, and are normally accessed through an employer, although they can also be bought directly from the pension provider.
The rules for stakeholder pensions changed on 1 October 2012. Employers are no longer required to designate a stakeholder scheme for their employees. However, stakeholder pension schemes can be used by employers for automatic enrolment purposes provided the scheme meets the necessary criteria.
If you had employees in a stakeholder pension scheme before 1 October 2012, you must carry on taking workers’ contributions from their pay and send them to the scheme if the worker wants you to.
Know your legal responsibilities
- Do you need a licence?
- Get the right business insurance
- Comply with the law when providing goods and services
- Know your customers' rights
- Distance and online selling rules
- Understand pricing legislation
- Buying goods from outside NI
- Selling goods outside NI
- GDPR compliance checklist
- Pay your business rates
- Understand staff contracts and your responsibilities
- Taking on contractors and subcontractors
- What you need to do about health and safety
- Know your legal obligations on pensions
Understand tax and VAT
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