Stakeholder pensions are a form of simple personal pension which sees you save money into a pot - topped up by tax relief - which is handled by a pensions provider who invests it on your behalf. Schemes must meet minimum government requirements, with management charges capped at 1.5 per cent and no charge levied if you transfer to another stakeholder pension provider. More... Can I pay extra into the second state pension so I get more than £144-a-week flat rate in 2016? SIPP vs stakeholder: how to choose the right type of personal pension Retiring soon? Get an annuity quote Is equity release right for you? Check this free guide There are a few notable differences between the two pensions: Standard Life offers 30 investment funds to choose from, along with five 'lifestyle options' in which money is automatically invested into funds based on your risk profile. Scottish Widows meanwhile offers 35 investment funds and six lifestyle profiles. While both charge a 1 per cent a