IRELAND - Total assets invested in Personal Retirement Savings Accounts (PRSAs) grew 29% (€189m) in the final quarter of 2006 to reach €835.3m.
The Pensions Board said 95,045 PRSAs had been taken out, compared to 83,790 at end September 2006.
That figure was comprised of 72,761 standard PRSAs and 22,284 non-Standard PRSAs.
In other news, the ten main managed fund providers in Ireland achieved an average return of 0.7% in January, according to Rubicon Investment Consulting.
For the past 12 months, returns were 11.3% on average, and 14.2% p.a. over the past three years.
This week's top stories include ITS' management buyout from Mercer, and The Pensions Regulator launching a probe into single-employer defined contribution schemes' default funds.
People retiring in the UK will on average outlive their pension savings by 10 years, according to research by the World Economic Forum (WEF).
Steps to improve auto-enrolment are uncontroversial and obvious, but the government is dawdling on introducing the necessary changes, argues Jack Jones.
Professional trustees will be expected to apply for accreditation as part of a framework intended to be launched on 1 July by the Professional Trustee Standards Working Group (PTSWG).