An improvement in the UK stock market could be partly responsible for a gradual increase in pensions and investment business so far this year, suggests the ABI.
That said, individual stakeholder pensions are still suffering a lack of take-up compared with other pensions products offered by employers. According to the latest new business figures, individual single premium pensions business has fallen 9.4% alone in the first quarter of 2004, compared with Q4 2003, whereas regular premium pensions investment is up 6.4% quarterly. The Association of British Insurers points out stakeholder pensions have contributed to the 6% (£28m) rise in group pensions business compared with a year ago. Investment in collective investment schemes have also ma...
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