Research by an industry broker has found that selecting the wrong stakeholder pension provider could have cost you up to 30%! Stakeholder pensions were launched in April 2001 with the flexibility that if could not decide on which fund you wished to invest your money in, the pensions company would invest your money in a default fund. The difference in default funds between the best and the worst is a staggering 30%.
Our view:
No surprises there. It just proves what many advisers have been saving for years - you need to take advice on the choice of both a suitable investment company and the fund choice. Visit the Help Zone for all the different ways we can offer advice. Prefer low cost guidance? Try our £9.99 Ask An Adviser Service.