A Stakeholder Scheme is a defined contribution arrangement and works on a money purchase basis.  This means that contributions are invested to build up your own Stakeholder account that is used to provide you with a tax-free lump sum and to buy a pension when you come to retire.

The Stakeholder Scheme is open to all employees.   

If you are currently a member of the Group Pension Scheme and wish to make additional payments through the Stakeholder Scheme please click here.

You are eligible to join the Stakeholder Scheme from the first day of the month following the start of your employment with the Press, or the first day of any month thereafter.

You will be required to complete an Application Form to become a member of the Stakeholder Scheme.  The Application Form can be found in the pension pack, which will normally be issued on your first day of employment.  Alternatively, you can print off a copy of the Stakeholder Application Form here.

You will also need a Prudential Stakeholder ‘starter pack’, which is available from the Pensions Department.  The pack contains the Prudential’s application form and further information on Stakeholder Pensions.

Both the Stakeholder Scheme and Prudential application forms should be returned to the Pensions Department when completed.  Please do not send application forms directly to the Prudential as all applications must be accompanied by an electronic file.

Once we have received notification from the Prudential that your Stakeholder account has been opened we will contact you to advise when your first pension contribution will be deducted.

The Press will contribute to your Stakeholder account provided that you contribute at a certain level as well (unless you are a contributing member of the Group Pension Scheme, in which case the only contributions to the Stakeholder Scheme will be those made by you, if any). This will be in line with the following table

Your contribution	Press's contribution
(% of Pensionable Salary*)	(% of Pensionable Salary*)
3	6
4	7
5	8
6 and above	9

(*Pensionable Salary is your current earnings excluding non-pensionable pay)

You may elect to change your personal contribution level at any time.  However, please remember that this may also result in a different rate of contribution from the Press.
Please contact the Pensions Department if you wish to change your contribution level.