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Stakeholder Pensions

Volume 450: debated on Monday 9 October 2006

To ask the Secretary of State for Work and Pensions what plans he has to increase the number of people purchasing stakeholder pensions. (89250)

As I said in my reply to the hon. Member on 24 July 2006, Official Report, column 901W, we will continue to provide public information in order to help individuals make informed choices about saving for a pension, including information about stakeholder pensions. Stakeholder pensions are sold and marketed by the financial services industry. The suitability of a stakeholder pension for any individual will depend on their particular circumstances. Figures from the Association of British Insurers (ABI) show that around 2,880,000 stakeholder pension policies have been sold since their introduction in April 2001.