Stakeholder pensions were originally introduced to help people on relatively low incomes (of between £9,000 and £20,000 per year). The scope of these pensions has now broadened and they have recently been promoted as being suitable for pretty much anyone that does not have a pension, or is simply looking to improve the amount of income that they will receive when they reach retirement.

If you have a high income and already have a pension, then stakeholder pensions may still be of use - indeed, many people take out stakeholder pensions as a means of providing a savings plan for children (they may also assist with reducing the amount of tax that you are liable for). As ever, if you are considering such a scheme then you may find it useful to contact an independent financial advisor.

It's worth remembering that a stakeholder pension could be of use to you even if you are in permanent employment - you'll still be eligible to sign up for a scheme as long as your salary is less than £30,000 per year. It is a legal requirement for employers of 5 or more members of staff to provide access to a stakeholder pension (although there are some exemptions).

If you're already in some sort of occupational scheme and you aren't intending on changing jobs then you may find that a stakeholder pension isn't the best option for you - again, you may be best to seek independent financial advice before taking such an important decision.