High cost of switch between providers

The cost of switching from one stakeholder provider to another could be as high as £200 per scheme, according to Chris Dixon, managing director of online information service stakeholder.co.uk. Dixon said firms that have not adopted an electronic platform for their transactions are ignoring the cost of transfer losses to existing policyholders. He claimed that policyholders of non-stakeholder products would probably end up bearing the brunt of costs that were incurred by stakeholder policyholders' freedom to move from one provider to another without charge. Even companies that have inves...