UK Pensions Market The Impacts of Recent Legislation on Consumer Behavior in the Pre- and Post-retirement

Orbis Research Market brilliance released a new research report of 52 pages on title ‘UK Pensions Market 2017’ with detailed analysis, forecast and strategies. The study covers important players such as Wealth Wizards, HSBC, NatWest, Santander, Pension Bee, Willis Towers Watson, Aviva, etc.

The pre- and post-retirement markets have seen some big changes over the last few years. The state pension has been changed from a two-tier to a flat-rate model. The state pension age is steadily increasing to relieve pressure on the government, as the UK population is aging and individuals are living longer. Auto-enrolment will continue to be a big driver of growth in work- and trust-based pensions, as will buyouts as employers look to de-risk. By February 2018, all businesses will have to provide a pension to eligible employees, and by April 2019 the total minimum contribution will be 8%. This means that more individuals will be paying into a pension, and they will be contributing more. New pension freedoms have given customers more flexibility in how they take money from their pensions. The impact has been that fewer individuals are opting to buy an annuity, instead opting for income drawdown or cash withdrawals. There is a greater need for advice, but there is an advice gap where those with small pots are going without as independent financial advisors concentrate their business on wealthier individuals following the Retail Distribution Review.

Browse the complete report @ http://www.orbisresearch.com/reports/index/uk-pensions-market-2017 .

Companies Mentioned:
Wealth Wizards
HSBC
NatWest
Santander
Pension Bee
Willis Towers Watson
Aviva

Scope
- This report explores the pre- and post-retirement markets.
- It discusses recent legislation such as changes to the state pension, auto-enrolment, the Retail Distribution Review, and the new pension freedoms.
- It explains the impacts of legislation with regards to market sizing, distribution, how people are saving their pensions, and how people are taking their pension pots at retirement.
- The size of the pensions market has been forecast to 2021.
- There is also a focus on how technology and robo-advice can encourage pension saving and understanding of pension options.

Reasons to buy
- Understand the impacts of recent legislation on consumer behavior in the pre- and post-retirement markets.
- Discover how technology and robo-advice can be used to encourage individuals to save pensions and give advice at retirement, ultimately increasing customer engagement.
- See how the UK pensions market is forecast to grow over the next five years.

Request a sample of this report @ http://www.orbisresearch.com/contacts/request-sample/324100 .

List of Tables
Table 1: Individual premiums APE, by product type (£000s), 2013-16 3
Table 2: Workplace premiums APE, by product type (£000s), 2013-16 3
Table 3: Trust-based premiums APE, by product type (£000s), 2013-16 3
Table 4: Number of UK businesses and employees (000s), by employee band size 2012-16 3
Table 5: Forecast of premiums APE, by pension product (£000s), 2013-21f 3
Table 6: The number of pension annuities sold by size of fund, and total new premiums (£000s), 2018-16 3
Table 7: New total premiums APE, by advice type (£000s), 2013-16 3

List of Figures
Figure 1: Over-65s are forming an increasing proportion of the UK adult population 3
Figure 2: UK life expectancy is increasing 3
Figure 3: The UK pensions market was worth £10.82bn APE in 2016 3
Figure 4: Auto-enrolment is staged by business size, starting with the largest employers 3
Figure 5: Total minimum contributions will rise to 8% of band earnings in April 2019 3
Figure 6: The UK pensions market will be worth £17.5bn APE by 2021 3
Figure 7: Consumers approaching retirement have many options in terms of drawing income 3
Figure 8: Defined benefit pensions are declining, but auto-enrolment has increased the number of employees with workplace pensions 3
Figure 9: Defined benefit pensions are in decline, particularly among younger employees 3
Figure 10: The number of annuities sold has fallen drastically over recent years 3
Figure 11: New business premiums from income drawdown have more than doubled since 2014 3
Figure 12: Full cash withdrawals are currently the most common way to access a pension 3
Figure 13: Most of those who make full cash withdrawals have pension pots worth under £30,000 3
Figure 14: The independent advice channel dominates individual and work-based pensions 3
Figure 15: 64.5% of individuals opting for income drawdown sought financial advice 3
Figure 16: The Pensions Dashboard prototype shows a comprehensive review of an individual’s pensions savings 3
Figure 17: Aviva’s ‘Shape My Future’ tool allows users to compare their desired retirement lifestyle with their savings 3

Buy a report @ http://www.orbisresearch.com/contact/purchase/324100 .

About Us:
Orbis Research (orbisresearch.com) is a single point aid for all your market research requirements. We have vast database of reports from the leading publishers and authors across the globe. We specialize in delivering customized reports as per the requirements of our clients. We have complete information about our publishers and hence are sure about the accuracy of the industries and verticals of their specialization. This helps our clients to map their needs and we produce the perfect required market research study for our clients.

Contact Us:
Hector Costello
Senior Manager – Client Engagements
4144N Central Expressway,
Suite 600, Dallas,
Texas - 75204, U.S.A.
Phone No.: +1 (214) 884-6817; +912064101019
Email ID: sales@orbisresearch.com

This release was published on openPR.