Pension business growing steadily ABI figures show

Pension sales are showing steady growth with an increase seen in employer-sponsored stakeholder sche...

Pension sales are showing steady growth with an increase seen in employer-sponsored stakeholder schemes, according to the ABI statistics on fourth quarter 2005 figures. Total new business in that quarter was £3.1bn annual premium equivalent (APE), a rise on the equivalent quarter in 2004 of 16%. Over the whole of 2005, total new business was £11.6bn APE, an increase on 2004 of 13%. The ABI reports that over that quarter, single premium individual pensions new business rose from £3.1bn to £3.8bn, an increase of 22% on the equivalent quarter in 2004, while regular premium employer-sponsored...