What are stakeholder pensions?

Stakeholder pensions are low-charge, flexible and portable pensions that allow you start by contributing as little as, say, £20 a month. If you like, you can build up your contributions as you can afford more.

How do I choose a personal pension or a stakeholder pension?

If you decide to take out a personal pension or a stakeholder pension, you should compare the different pension providers. Shop around and compare their returns and charges.

Before you buy a pension, you need to be sure that it is the right one for you - dropping out can mean that you lose much of the money you've already paid in. Look at reputation, past results and penalties for changing schemes. Some schemes, including stakeholder pensions, offer flexibility if you want a break from payments or become ill. Some also let you control where your money is invested.