UK - Almost 70,000 new stakeholder pensions were bought in July, according to figures released by the Association of British Insurers (ABI).
This brings the total number of policies arranged since April’s launch to nearly 300,000.
A further 35,000 employers registered as providers during April, bringing the total number with designated schemes in place to nearly a quarter of a million.
ABI spokesman Malcolm Tarling said the Association expected a slow take-up for the first three months as stakeholder pensions would prove more popular among middle income earners, but expected this figure to increase over the next three months.
By Janet Du Chenne
The Brunel Pension Partnership has become the fourth local authority pool to receive the green light from the regulator.
Defined benefit (DB) schemes are to be offered a new consolidator as the former chief of the Pension Protection Fund (PPF) launches 'The Pension SuperFund'.
Martin Freeman has been hired as head of technology product and development at Smart Pension, to support the 'growing' technology product side of the business.
Tim Sharp says the government has missed some big opportunities to help workers in the DB white paper.