The Post Office and Standard Life teamed up to sell stakeholder pensions but it has been revealed that only 2000 pensions were sold in 15 months, an average of one pension for every nine Post Office branches.
Standard Life is determined to continue with the intitiative, although it admitted that the level of sales did not pay back the original investment. The mutual is believed to have spent £1 million to develop systems and also paid for marketing literature throughout all Post Office branches.
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