Standard reports dip in UK pension sales
06/02/2006 - 07:56:24Standard Life said today it continued to reposition its business after seeing a further jump in sales of self-investment pensions and investment bonds.
Figures for the final three months of the year show the planned rise in single premium-based business was offset by a decline in areas such as individual pensions as Standard gets itself ready for a stock market flotation in the summer.
Overall in 2005, UK life and pensions business increased 3% to £908m (€1.3bn), following a decline of 12% to £221m (€323m) in the final quarter after Standard cut commission levels on individual and group pensions.
