Open your clients' eyes to the danger ofpoor performance

Not everyone will benefit from switching pensions but intermediaries should consider transferring for clients invested in with-profits funds that are underperforming or for those invested in funds closed to new business

No one wants to miss the opportunity to save money. It is, therefore, amazing so few people have re-visited their existing individual pension plan to see if they could reduce their costs by moving it to a better home. The amount of money that could be saved by switching a pre-stakeholder individual pension plan to a lower charged, more competitive plan is staggering. According to an FSA paper (OP 18), there are two million existing individual pension plan holders who are in the Government's original target group for stakeholder pensions. Unfortunately for the Government, which thought th...