Stakeholder pensions

“It’s so important in this area to designate the right provider and with bssa doing all the hard work for us, we had no doubt that, in carrying out our legal obligation to set up a scheme, we were placing it in good hands.”

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In April 2001, the Government introduced Stakeholder Pensions. The aim of Stakeholder Pensions is simple: to give employees the opportunity to save for retirement with a flexible, simple, low cost pension plan from their place of work.

We have designated HSBC Bank as our nominated Stakeholder Pensions provider. The maximum Annual Management Charge (AMC) is set down by law. For those who joined a stakeholder scheme on or after 5th April 2005, the maximum AMC is 1.5% for the first 10 years, which will reduce to 1% from then onwards if these individuals remain in the scheme. For bssa members, however, we have negotiated specifically reduced AMCs with HSBC for all contributions.

In making contact with HSBC please ensure that you quote your bssa membership number to benefit from the reduced AMCs. For further details click here. You will need your bssa username and password to login.