Pre-stakeholder challenge

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Legal & General has issued a challenge to stakeholder-friendly providers to match the transfer value...

Legal & General has issued a challenge to stakeholder-friendly providers to match the transfer value pound for pound when policyholders opt to switch to stakeholder. Stakeholder pensions, scheduled to begin in April 2001, have a 1% total charging cap on the product. However, pre-stakeholder schemes while boasting lower charges than traditional pension products, still have higher charges. However, most groups offer free transfers to a stakeholder once they are launched. When the PIA issued its regulatory update 64 last year it stated that a pension sold today, in light of stakeholder pen...

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