LONDON Oct 30 Standard Life PLC posted a one
fifth increase in sales of long term savings products during the
first three quarters of 2013 as it flagged an expected boost
from the introduction of automatic enrolment of UK employees to
company pension schemes.
In a trading statement on Wednesday, the Edinburgh-based
group said it has a "strong" pipeline of of secured new
"Further benefits are expected from auto enrolment for new
and existing corporate pension clients during 2014," the company
Long new business for long term savings was 17.3 billion
pounds during the nine months to September 30, Standard Life
said, up from 14.4 billion pounds a year earlier,
Its fund management arm Standard Life Investments posted net
inflows of new client money of 8.3 billion pounds over the
period, of which 1.2 billion pounds was attributed to the third
quarter of the year.
The division, which is seeking to expand its international
reach, also saw sales outside the UK nearly double.