What is a stakeholder pension?

The RLCIS Stakeholder Pension is a plan to help build up a sum of money in a tax-efficient way to support you in retirement. It's designed to meet conditions set out in legislation.

Your options

Make single payments

Pay into your stakeholder pension.

Switch funds

Choose from a range of funds.

Make Regular Payments

Update your monthly contributions

Product details

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Paying into your RLCIS Stakeholder Pension

If you already have a RLCIS Stakeholder Pension plan with us, you can continue paying into it. You can also make additional payments to your existing plan.

If you’d like to make additional payments to your existing plan please contact us. You'll need to quote your full name, address and your policy number, and tell us whether you want to make a single or regular payment.

For a single payment, you’ll need to send us a cheque made payable to 'Royal London' with your policy number on the reverse side. To update a regular payment, tell us the new total monthly contribution via your existing Direct Debit arrangement.

We'll send you a pension statement each year so that you know how your plan is performing.

Switching funds

You can switch the money you’ve already saved in your plan to a different fund(s). Or if you’re making regular payments, you can change the fund(s) into which these are invested in the future.

Our RLCIS Statement of Investment Principles document (PDF, 0.92MB) has more information on our pension funds.

Escalation option

Help protect the value of your pension against inflation

  • Inflation will lower the buying power of your pension pot (also called your 'pension savings') over time.
  • You can add the escalation option to your plan to automatically increase your pension contributions each year. This will reduce the impact of inflation on your pension pot.
  • Inflation has been moderate in recent years but it has been much higher in the past. Even low levels of inflation can lead to significant price increases over the years.

Find out how the escalation option could increase the size of your pension pot.

See our escalation tables.

How can I add the escalation option to my RLCIS Stakeholder Pension plan?

You can add the escalation option to your plan by calling us on 0345 605 7777.

How escalation could affect your income in retirement

If you choose the escalation option, you could get a larger income in retirement than if you choose to pay the same fixed contribution until you retire.

Our tables show how the escalation option could potentially boost the value of your pension. They show the impact on your estimated pension for different monthly contribution levels paid over different periods of time.

Please note

The figures in these tables are only estimates and assume your investments will grow at 5% each year in the future. The assumed future investment return will be different depending on where you're invested. So you should only use these tables as a guide.

Escalation tables

Male – Escalation at 3% - Retirement age of 60

Contribution at outset Escalation option? Annual pension after 10 years’ contribution Annual pension after 20 years’ contribution Annual pension after 30 years’ contribution
£100 per month With escalation option £323 £732 £1,237
  Without escalation option £284 £564 £847
£150 per month With escalation option £484 £1,097 £1,855
  Without escalation option £426 £846 £1,270


Male – Escalation at 5% - Retirement age of 60

Contribution at outset Escalation option? Annual pension after 10 years’ contribution Annual pension after 20 years’ contribution Annual pension after 30 years’ contribution
£100 per month With escalation option £352 £880 £1,639
  Without escalation option £284 £564 £847
£150 per month With escalation option £528 £1,320 £2,458
  Without escalation option £426 £846 £1,270

Female – Escalation at 3% - Retirement age of 60

Contribution at outset Escalation option? Annual pension after 10 years’ contribution Annual pension after 20 years’ contribution Annual pension after 30 years’ contribution
£100 per month With escalation option £346 £784 £1,325
  Without escalation option £305 £605 £907
£150 per month With escalation option £519 £1,177 £1,987
  Without escalation option £457 £846 £1,360

Female – Escalation at 5% - Retirement age of 60

Contribution at outset Escalation option? Annual pension after 10 years’ contribution Annual pension after 20 years’ contribution Annual pension after 30 years’ contribution
£100 per month With escalation option £378 £943 £1,755
  Without escalation option £305 £605 £907
£150 per month With escalation option £567 £1,415 £2,633
  Without escalation option £457 £907 £1,360

Notes

Our escalation tables assume:

  • that the value of our investments will grow at 5% every year.
  • that you'll buy a pension that increases each year in line with inflation.
  • that inflation will be 2% each year.
  • an investment return after retirement of 2.2% every year below inflation.
  • that you'll buy a pension that provides half of your pension to your spouse when you die.
  • that, when you retire, you'll be married to someone three years older than you if you're female, or three years younger if you're male.
  • that you'll choose to take a monthly payment from the date you retire.
  • that you won't take a lump sum at retirement. If you take a lump sum, your pension would be reduced.
  • escalation of 3% or 5%. But you can choose a fixed percentage of between 1% and 10% or in line with the Retail Prices Index (RPI).

Important note

What actually happens might be very different from these assumptions. So your future pension could be significantly more or less than the amounts shown.

Reviewable premium

If you have waiver of contribution cover, then every so often we'll review your premium. This could mean that the amount you pay changes.

Things we consider when reviewing your premium include:

  • changes in claims experience, trends and expectations
  • changes to expenses outside our control, like changes to the tax levied on this type of business
  • changes in how long customers keep their products (also called persistency), trends and expectations
  • changes to how we expect investment returns to perform in future.

Contact us

You'll need to tell us your full name, address and your policy number.

Write to us

If you have any questions about your plan, or want to make additional payments, write to us at:

Royal London

Stakeholder & IPP Team

Churchgate House

56 Oxford Street

Manchester

M1 6EU

Phone us

You can call us on

0345 605 7777

Lines are open between 8am - 6pm Monday to Friday, excluding bank holidays.