§ 21. Mr. FlightTo ask the Secretary of State for Work and Pensions how many of the Government's target group have taken out stakeholder pensions. [45032]
§ Mr. McCartneyComprehensive information is not yet available (and will not be until the end of the current tax year). However, early figures from the Association of British Insurers (ABI), based on a limited sample of information from pension providers, show that in cases where earnings of purchasers are known to providers, then the majority of them have earnings of between £10,000 and £30,000 a year. ABI figures also show that 320,000 employers have designated a stakeholder pension scheme for their workforces as at the end of February 2002; representing a compliance rate of over 85 per cent., and over 750,000 people have bought a stakeholder pension.