The search for stakeholder pension business is set to turn into a bitter battle between providers as historically arcane, but juicy, fee structures are simplified and plunge below the Government's 1% level.

'Companies struggling to come to terms with 1% are set for a nasty shock as participants such as Legal & General drive charges down as low as 0.3%,' says independent analyst Ned Cazalet, in a 700-page review of the life assurance industry.*