A stakeholder pension is a flexible beast.
If you have one you can also move funds from one stakeholder pension to another, normally without charge. However, do be aware that if you take advice from a stakeholder pension provider over the pros and cons of moving, they may charge you a fee.
You may be able to transfer your existing pension into a new, low cost stakeholder pension to your current non-stakeholder pension provider and, again, they may well charge you a fee to do this. If you are considering transferring a personal pension fund into a new stakeholder product, ask for both a current valuation and a transfer value.
Also, get a projection of final income from a new stakeholder pension value – and contrast it with your current arrangements.
If you are considering transferring your company pension – possible in many circumstances – then you may need to take advice from a pension transfer specialist. In the long run this may be worth doing, especially if you feel current company pension fees or pension performance has been disappointing.
Don’t forget that if you feel the disadvantages outweigh the advantages here, you can still take out a separate stakeholder pension anyway.
It is always tempting to make a fresh start in some aspects of financial planning, but many company pensions have very strong investment records, so it might also pay you to leave things as they are.