How Do You Spell STAKEHOLDER PENSION?

Pronunciation: [stˈe͡ɪkhə͡ʊldə pˈɛnʃən] (IPA)

A stakeholder pension is a type of retirement plan available in the UK. The spelling of the word "stakeholder" uses the IPA phonetic transcription /ˈsteɪkhəʊldə/, where the "a" sound is pronounced like the "ay" in "day". The "e" after the "k" is silent, and the stress is on the second syllable. The word "pension" uses the IPA phonetic transcription /ˈpɛnʃən/, where the "e" is pronounced like the "e" in "pet" and the stress is on the first syllable. Together, "stakeholder pension" refers to a specific type of pension plan designed for employees who do not have a company-sponsored retirement plan.

STAKEHOLDER PENSION Meaning and Definition

1. Stakeholder pension refers to a type of pension scheme introduced in the United Kingdom in 2001 as part of the government's effort to extend pension coverage and encourage retirement savings among individuals. It is essentially a form of defined contribution pension plan that offers a simplified and cost-effective way for individuals to save for their retirement.

   In a stakeholder pension, individuals can make regular contributions towards their pension fund, which is then invested by a pension provider on their behalf. The pension provider can be an insurance company, a bank, or an investment management firm. These contributions are typically made on a pre-tax basis, allowing individuals to benefit from tax relief on their pension savings.

   One of the key features of a stakeholder pension is affordability and simplicity. The law requires that stakeholder pensions have low minimum contribution levels, maximum charges, and flexibility in terms of contribution amounts and frequency. This makes it easier for individuals from different income groups to participate and save for their retirement, particularly those who previously didn't have access to workplace pensions.

   Stakeholder pensions are dubbed "stakeholder" because they involve key stakeholders who play a role in the pension scheme. Besides the pension provider, stakeholders also include the individual contributing to the pension, the employer, and the government, which provides tax reliefs and sets regulations governing stakeholder pensions.

   Overall, stakeholder pensions aim to provide individuals with a flexible and accessible way to accumulate savings for their retirement, ensuring greater financial security in their later years.

Common Misspellings for STAKEHOLDER PENSION

• atakeholder pension
• ztakeholder pension
• xtakeholder pension
• dtakeholder pension
• etakeholder pension
• wtakeholder pension
• srakeholder pension
• sfakeholder pension
• sgakeholder pension
• syakeholder pension
• s6akeholder pension
• s5akeholder pension
• stzkeholder pension
• stskeholder pension
• stwkeholder pension
• stqkeholder pension
• stajeholder pension
• stameholder pension
• staleholder pension
• staoeholder pension

Etymology of STAKEHOLDER PENSION

The word "stakeholder pension" is not derived directly from a specific etymology but rather from the combination of two words: "stakeholder" and "pension".

1. Stakeholder: The term "stakeholder" originated in the late 17th century and is derived from the words "stake" and "holder". "Stake" refers to a sum of money or property that is risked or wagered in a bet or investment, while "holder" refers to a person or entity that holds or possesses something. In a broader sense, a stakeholder is someone who has an interest or concern in a particular project, organization, or system and can influence or be influenced by it.

2. Pension: The term "pension" can be traced back to the 14th century and comes from the Old French word "pension" and the Latin word "pensio".