Switching to stakeholder pension "could save half a billion" - CM

Two million people could together save around £500m a year by switching their personal pension to a 1% stakeholder pension, Clerical Medical says. Basing its figures on a rather weak ground, CM estimates that around 1,980,000 people - as set out in the government's original target group for stakeholder pensions - would collectively save a total of £475,200,000 a year. CM arrives at this conclusion after comparing a personal pension fund - estimating that this fund both has a transfer value of £30,000 as well as an Annual Management Charge (AMC) of 1.8% - with a fund with an AM...