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Personal pensions experienced mini-boom between 1996 and 1998 according to ABI

Personal pensions rose 18 per cent to £225bn in 1998 from £190bn in 1996 according to the Association of British Insurers.


These figures are supported by the Government Actuary&#39s Department which found that for 1997 total money in funded pensions increased by 18 per cent to £980bn in 1997 from £830bn in 1996.


Over 65 per cent of the money was invested in self-administered, self-invested schemes.


It is estimated that £105bn was invested in occupational pensions.


ABI director general Mark Boleat says: &#34The continuing high profile debate on the future funding of pensions is pointing towards a greater role for the insurance industry in providing pension products to meet changing consumer needs.&#34

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