A-day customer service to cost £100m

The effect of new regulations on 14.3 million private pension holders will mean customer enquiries are set to significantly increase as more people will want to know how it affects them. Transversal, an eCustomer service software company, estimates the average cost of a single straightforward email query is around £6.50, but if each pension holder in the country asked just one question, the cost to the industry would be about £93m. However, the company points out that as pension queries are likely to be more complex and take longer to handle, the cost could double or even treble, which...