Stakeholder

If you wish, you may want to make your own arrangements to pay contributions to a stakeholder pension scheme at the same time as being a member of the LGPS.

The cost to you

If you choose to contribute to a stakeholder, contributions will not be deducted from your pay (unless your employer voluntarily agrees to do so). Instead, you will need to make your own arrangements to pay contributions. The provider will claim the basic rate tax relief from HM Revenue and Customs and credit it to your personal fund.

If you are a higher rate tax payer you will need to claim the higher rate tax relief on your annual tax return.