Providing market research reports, industry analysis, company profiles and country reports for strategic planning, competitive intelligence, marketing and business research.
Search for Market Research Reports:    

Five Factors That Will Shape The Future Of The UK Pensions Market

Published by: Datamonitor

Published: Jul. 31, 2006 - 9 Pages


Table of Contents


DATAMONITOR VIEW
CATALYST
SUMMARY
METHODOLOGY


ANALYSIS
The UK pensions market is unsustainable in its current form therefore major reforms are being introduced
The percentage of the population aged over 65 is forecast to double by 2050
Investment in private pensions has fallen
Consumers have demanded an end to the growing disparity between earnings and retirement income.
The Pension's industry will develop its products and services and take some responsibility for the future sustainability of the market
Product structure and focus needs to change to cater for the shifting demographic
The increase in popularity of products such as SIPPs will provide a boost to the market
The new pensions regime will mean the role of distributors evolving to meet the new needs of customers
IFA sales of pensions to lower end income bands will fall
High net worth and upper mass affluent customers will become even more of a focus for IFAs
Non-pension savings products will grow in popularity
Opportunities exist for banks to develop their pensions advice offering
Legislation will be put in place to limit the ability of future Governments to change the structure of the pensions reform
Current and future Governments are needed to stick with the strong reforms suggested
An Independent body will be put in place to take charge of pensions reviews
IFAs will play a more significant role in policy making and the decision process
NPSS will have a significant impact however Datamonitor forecasts that by 2020 just 60% of employees will be served by the scheme
Despite the auto-enrollment element there will be a substantial proportion of workers who opt out of NPSS
Having a single scheme from one provider will not significantly reduce levels of churn
Private pensions will also be needed to supplement this basic level of income
The implication of this is that NPSS may not have the "market-altering" impact that was initially predicted

APPENDIX
Definitions
Personal Pensions
Stakeholder Pensions
Group personal pensions
SIPPs (Self Invested Personal Pensions)
Further reading
Datamonitor Consultancy
Ask the analyst

Abstract

Introduction

The pensions market in the UK is undergoing a period of immense upheaval, with Government regulation re-shaping the market. This brief examines the outlook for the pensions market and gives predictions for the future shape of the industry from the point of view of both providers and distributors.

Scope
  • Identifies five key factors that will be key to the structure of the pensions market over the next ten years.
  • Provides Datamonitor's forecasts for the future of key products in the UK pensions arena
  • Examines the issues facing providers and distributors of pensions and identifies how they can position themselves to take advantage of the changes
Highlights

Even by the most conservative estimates, by 2050 the ratio of 65+ year olds to 20-64 years olds will increase from 27% to 48%, with even larger growth in disparity predicted by some.

SIPPs are set to be a key pension product in the future. Datamonitor forecasts that by 2010 SIPP sales will reach £516m.

Both providers and distributors need to rethink their customer offerings in order to fit in with the challenges of the new pension landscape.

Reasons to Purchase
  • Understand the main challenges facing the UK pensions market over the coming years.
  • Learn about Datamonitor's forecasts for key pensions products.


Get Full Details About This Report >>
US: 800.298.5699
Int'l: +1.240.747.3093
Buy this Report
Price and Delivery Options
Search Inside Report


 

About MarketResearch.com
MarketResearch.com is an online aggregator selling over 160,000 market research reports, company profiles and country profiles from over 600 research firms. Our reports will provide you with the critical business and competitive intelligence you need for strategic planning and marketing research. Coverage includes the US, UK, Europe, Asia and global markets.

 

© MarketResearch.com 2008