There was a steady growth in individual pension saving and an "encouraging" increase in employer-sponsored stakeholder pensions in the fourth quarter of 2005, according to the Association of British Insurers (ABI).
The ABI’s latest figures for long-term life and pensions new business reveal total new business in quarter four of 2005 was £3.1bn Annual Premium Equivalent (APE), a rise of 16% on the equivalent quarter in 2004. Over the whole of 2005 total new business was £11.6bn APE, an increase of 13% on the £10.2bn figure in 2004. The research also reveals single premium individual pensions new business rose from £3.1bn to £3.8bn in quarter four 2005, an increase of 22% on the equivalent in 2004, while regular premium individual pensions new business was £68m in quarter four 2005 compared with £79...
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