A stakeholder pension, also known as a group personal pension, is a type of workplace pension scheme that is set up by an employer for the benefit of their employees. Stakeholder pensions are designed to be simple and affordable, and they offer a number of benefits, including tax relief on contributions and the potential for employer contributions.
Stakeholder pensions were introduced in the UK in 2001, and they have since become a popular option for employers and employees alike. They are particularly well-suited for small businesses and employers with a large number of low-paid employees.
