Personal Pension Plans

These offer more investment choice than stakeholder plans, with between 40 and 400 funds available from a range of managers.  

Many personal pension providers have now brought their plans in line with the stakeholder model, capping charges at 1.5% a year for the first 10 years and 1% thereafter.

In the past, personal pensions were severely criticised for applying steep charges without limit.

Be aware there is still no limit on personal pension charges outside a stakeholder, so check what these are before you apply.