Stakeholder Pension Scheme for Civil Service Employees
Provided by the TUC and administered on their behalf by Prudential
Benefits
The TUC scheme offers value for money with a sliding scale charging structure. Charges start from as little 0.7% per annum depending on the size of your fund. |
You can keep track of your pension and make changes to it at any time via a dedicated website, phone or post. |
The plan is very flexible so you can start, stop or change the amount of your payments within certain payment levels and timeframes. |
Your plan is portable. So, if you leave the Civil Service, you can still make contributions offering the potential for future fund growth. |
The Civil Service partnership pension account provides options for all employees to plan for their retirement. One of the options available is the Stakeholder Pension, offered by the TUC and administered by Prudential.
Prudential's knowledge, together with the unions' record of looking after their members, means that the scheme offers the potential for good benefits and value for money.
Remember, you do not have to contribute to the scheme in order to attract the employer contribution of as much as 12.5%. However, if you decide to make your own payments, the Civil Service will match these up to a maximum of 3%.
If you wish to apply for the scheme, contact our service centre for an application pack. The application form should be completed and returned to your employer.
Or contact us by post at:
Stakeholder Customer Service Centre
Prudential
Stirling
FK9 4UE
Please ensure you have read the Key Features Document carefully before you apply.
Call us on 0845 070 6666. Lines are open 8.30am-6pm Monday to Friday.
* Calls are charged at local rates and may be monitored or recorded for quality and security purposes.
Each tax year, you can get tax relief on your payments of up to £3,600 or 100% of your annual earnings. However, if payments exceed the 'annual allowance' of £255,000 (2010/11 tax year) you could be subject to a 40% tax charge. This includes payments to all registered pension schemes.
The Government have introduced some rules around restricting tax relief on those with a total annual income of £130,000 or above. If you think you maybe affected by these changes we strongly suggest you seek financial advice.
