Stakeholder and SIPP compared

Stakeholder and SIPP

General

	Stakeholder	SIPP
Eligibility	No minimum age	No minimum age
Access to your pension fund	Age 50 before 6/4/2010, 55 after	Age 50 before 6/4/2010, 55 after
Tax relief on contributions	Yes	Yes
CGT liability	No	No
Tax on income paid out	Yes at personal rate	Yes at personal rate
Tax on income received	Yes limited to tax paid on dividends	Yes limited to tax paid on dividends
Tax-free lump sum at retirement	Yes 25%	Yes 25%

Contributions

	Stakeholder	SIPP
Lump-sum contribution	Yes	Yes
Regular contribution	Yes	Yes
Maximum annual contribution	£3,600 or 100% of income to a maximum of £255,000 pa and qualify for tax relief	£3,600 or 100% of income to a maximum of £255,000 pa and qualify for tax relief

Charges

	Stakeholder	SIPP
Lump-sum contribution	Capped at 1.5% pa	Various

Investment options

	Stakeholder	SIPP
Cash	No	Yes
Money fund	Yes	Yes
Main stockmarket	No	Yes
Overseas equities	No	Yes
Alternative Investment Market	No	Yes
Managed insured funds	Yes	Yes
Unit trusts	No	Yes
OEICs	No	Yes
VCTs	No	Yes
Investment trusts	No	Yes
ETFs	No	Yes
ETCs	No	Yes
Government Gilts/bonds	No	Yes
Corporate bonds	No	Yes
Warrants	No	Yes
Convertible securities	No	Yes
Hedge funds	No	Yes

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Why Legal & General?

The Legal & General Group is responsible for investing £280 billion worldwide (as at
31 December 2008) on behalf of investors, policyholders and institutions.
Over 6.5 million people rely on them for life assurance, pensions, investments and general insurance plans.
Legal & General is one of the biggest providers of index-tracking investments in the UK, managing £175 billion as at 31 December 2008.

The Share Centre Limited is a member of the London Stock Exchange and is authorised and regulated by the Financial Services Authority and is entered in the register (www.fsa.gov.uk/register/) under reference 146768. Registered office: Oxford House, Oxford Road, Aylesbury, Buckinghamshire, HP21 8SZ. Registered in England no. 2461949. VAT registration no. 596 3918 82.