Regulator publishes pensions comparisons

The government's investment watchdog the Financial Services Authority (FSA) has now made available comparative information on personal and stakeholder pensions on its website.

A comparison of charges for stakeholder schemes for example reveals that over 20 years the cheapest scheme could cost nearly half that of the most expensive. In order to get the comparative data you have to select appropriate categories for your age, retirement date and level of contributions you will then get a list of stakeholder and/or personal pensions, with basic information about the scheme.

For example, a 30-year-old paying £100 a month into a scheme and retiring at 65 would find charges and deductions ranging from £29,064 to £46,600 over the 35-year period.

The FSA is at pains to point out that the comparisons are not meant to be recommendations. It says that no product should be bought on the basis of the comparative tables alone but suggests that users could pick half a dozen and then get more information from the providers themselves or from an independent financial adviser

Companies provide the information on a voluntary basis and a small number have refused to supply details of their schemes.

The information is at www.fsa.gov.uk/tables.