Standard sipps offset protection losses

According to the new business figures released today, life and pensions new business volumes rose 52% to £3,220m form £2,119m in 2006, which Standard says is driven by a 56% increase in pensions, 28% growth in life products and a ‘strong showing’ of 142% growth in annuities. On a Present Value of New Business Premiums (PVNBP) basis, Standard says individual Sipp sales - which include insured and non-insured Sipps and drawdown – rose by 117% from £569m in 2006 to £1,233 in the first three months of 2007, resulting in funds under management of £5.3bn. It claims the increase has been drive...