Alternatively, call us today** if you would like a personal response from one of our friendly and qualified staff
When you invest money into the NFU Mutual stakeholder pension, you buy units in one or more of the eight funds available. This enables you to tailor your investment to your own needs and attitude towards investment risk.
More information on the funds available can be found further down this page.
To take out an NFU Mutual stakeholder pension you must be aged between 18 and 75 years old.
If you are under 18, your parent or legal guardian must apply on your behalf.
There is currently no minimum contribution for this plan. There are maximum contribution levels that are set by the Government. You can contribute a maximum of £3,600 gross per annum, or if your net relevant earnings per annum are higher than this, you can contribute up to the level of your earnings subject to a limit of £50,000 and benefit from full income tax relief.
In certain circumstances you may be able to contribute more than £50,000 in one year, and receive tax relief on your contribution, by taking advantage of the 'carry-forward' rules. These rules allow you to carry forward your unused annual allowance from the previous three tax years (up to a maximum of £50,000 for each of the previous years) as long as you have been a member of a registered pension scheme for those three years. You do not need to have made contributions to a pension scheme for any of those three years so the maximum you can carry forward in total from the previous three years will be £150,000. However, it is important to remember that tax relief on personal contributions is limited to an individual's UK earnings in the tax year that they make the contribution regardless of the amount available for carry forward.
The tax treatment of pensions depends on individual circumstances and is subject to change.
Yes, your contributions will automatically increase each year, on the anniversary of the date of the first contribution, in line with the increase in the Average Weekly Earnings (AWE) index. You can choose not to increase your contributions, or to have them increase at a fixed rate of 5% or 10% each year if you prefer.
No, you cannot make regular withdrawals on your pension investment.
The only time you can access this money is from age 55. It can then be used to purchase benefits to suit your circumstances.
You will receive an annual statement which will show you the value of your investment and tell you about its performance. You should remember that the value of this type of plan can go down as well as up so you may not get back what you invested.
If you've made your own choice which funds to invest in under your stakeholder plan, you can choose whether to have lifestyle switching apply to your plan.
Lifestyle switching means that over the lifestyling period, your pension savings are gradually moved into less volatile investments. As a result of this, your pension fund will be less susceptible to sudden reductions in the investment markets as you near your retirement date. However, this also means there is likely to be less opportunity for growth, so you should carefully consider whether you would like to try to maximise growth opportunities right up to your selected retirement age.
You can request an illustration of potential benefits by calling our Customer Services Team free on 0800 622 323.
You should note that future inflation could make the value of your pension worth less than it would be today.
You can choose to draw your NFU Mutual stakeholder pension at any time between the ages of 55 and 75 years.
You can choose to take up to 25% of the value of your pension as a tax-free lump sum.
The remainder of the value of your pension can either be re-invested to produce an income, or it can be used to purchase an annuity which provides you with an income (which is taxable).
If you die before taking your pension, the value of your fund may be paid to the nominated person(s) of your choice (if you die after age 75 there will be a 55% tax charge).
There are a total of eight stakeholder pension funds to choose from. Full information on the funds and their risk ratings for each fund can be found in the Key Features Document.
You can switch your investment occasionally to different funds, currently free of charge.
The tax treatment of pensions depends on individual circumstances and may change in the future.
Full details of this policy can be found in the stakeholder pension Key Features Document, which should be read and understood before you decide to proceed with any purchase. This can be requested via our contact us page or by calling free on 0800 622 323.
For security and training purposes, telephone calls may be recorded and monitored.
Note* NFU Mutual Financial Consultants advise on
NFU Mutual products and services and in
special circumstances those of other
providers.
** For security and training purposes calls may
be recorded and monitored.
Keep track of the performance of your investment. The latest prices are available 24 hours per day, 7 days per week.
Fund prices
Understand more about the company and our continued commitment to all of our customers.
Unusual places to stay
If the typical shorts and sandals seaside escape is not your cup of tea, why not something a little different... Read more...
Set as my local agent