For the last 3 years I have put the maximum into a M&S stakeholder pension for myself and wife and have accumulated £15000 in each. However I believe that M&S have stopped taking on new investors for a stakeholder pension.
I would have thought as they have withdrawn from this market then its not in their interest to perhaps actively manage the funds to make them competitive with other funds. At the moment the fund is in UK equities (1/3) fixed interest (1/4) the rest in international managed funds. The charges are 0.7%. I plan to put in further max payments for the next 10 years whereupon I intend to retire. My wife and I already contribute to an occupational pension.
My questions are : Do you think I am correct in my assumption that M&S stakeholder pension fund will become uncompetitive in the near future? Can I switch easily to a different provider? Should I switch to a different stakeholder pension provider? If so who?
Andrew