§ Mr. CousinsTo ask the Secretary of State for Social Security what the total value of money purchase plans presented for annualisation or income drawdown plans was in(a) 1990, (b) 1997 and (c) 1998; and what value is estimated for (i) 1999, (ii) 2000 and (iii) 2004. [101844]
§ Mr. RookerThe information is not available in the format requested. Such information as is available is as follows.
The total value of lump sums used to purchase pension annuities or income drawdown plans is given in the following table. The information does not distinguish between money purchase and other pension plans which are presented for annuitisation or income drawdown. The information on annuity purchase is only available from 1991 and the income drawdown information from 1996. No projections for future years are available.
£ million New single premiums for pension annuities New single premiums for income drawdown plans 1991 2,450 — 1997 4,300 1,546 1998 5,620 1,749 Source:
Association of British Insurers (ABI)