§ Miss McIntoshTo ask the Secretary of State for Work and Pensions what take-up there has been of stakeholder pensions. [82222]
§ Mr. McCartneyFigures from the Association of British Insurers (ABI) show that up to the end of September 2002, 1,151,371 stakeholder pensions had been sold. A detailed breakdown of sales will not be available until next year. Sales of over a million in their first 18 months on the market represents a very encouraging start.
In addition, the ABI figures show that 335,717 employers had designated a scheme for their work force. This means more people have the chance to save for a decent income in retirement through the work place.