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Saving for Retirement in the UK 2001Product Type: Market Research ReportPublished by: Datamonitor Published: July 2001 Product Code: R313-0038 Description Saving for Retirement in the UK' provides a comprehensive market overview and unrivaled insight into the UK long-term savings market, offering a unique analysis of the distribution, competitors and key issues in the industry today. Reinforced by Datamonitor forecasts to 2005, all the data and analysis featured in the report allows an assessment of where the market is at present, and what will happen in the future. Datamonitor defines the retirement savings market in the UK to be the purchasing of any products that are intended to be held for the purposes of long-term saving by an investor.Table of Contents Introduction What is this report about? Who is the target reader? How to use this report Market Context Introduction Key findings Legislative background Pensions reform started under the Thatcher and Major governments SIPPs (Self Invested Personal Pensions) Introduction of the ISA Partnership in pensions Stakeholder pensions The Pension credit - finally a retirement carrot for the stick SIPPs and stakeholder pensions Individual Pension Accounts (IPAs) - the pension-ISA? Britain's demographic timebomb is ticking away Total retirement savings market Total individual life and pensions market Annual premium pension products Single premium pension products Single life Reirement income provision Pension annuities Income drawdown Occupational pensions Regular premium group pensions Single premium group pensions Distribution analysis of retirement savings Total individual life and pensions Annual pensions Single pensions Single life Retail investment products ISAs Unit trusts Investment trusts Customer Focus Introduction Key findings Definition of the customer in the retirement savings market Consumers in the long-term savings market Type of products held Source of long-term savings information Personal pension switchers in the first two years Unit trust switchers in the first two years Key issues in retirement savings market Compulsion - the only way to get people saving for retirement? Polarization changes The future of annuities Customer awareness Market consolidation - product manufacturers versus retailers Segmentation in the retirement savings market Technology The role of fund supermarkets Customer service Expansion in the long-term savings product range New entrants - is there a threat from beyond? Long-term savings provider core competencies Size does matter Financial strength - the strong will out Investment performance and choice Distribution capability Established expertise and strong brand name Competitive products and prices Comparing the UK long-term savings market with Europe France Germany Lessons learnt from Europe Competitive Dynamics Introduction Key findings Evaluating competitors in the total retirement savings market Total life and pensions Expense ratios Acquisition expense ratios Total expense ratios Free asset ratios Total pensions business New pension business by parent company Regular pensions New regular pension business by life office Single pensions New single pension business by life office Single life ISAs Investment trusts Unit trusts and OEICs THE FUTURE DECODED Key findings Key drivers Total retirement savings market between 2000-2005 Scenario-based forecasts Scenario One - Stakeholder pensions succeed Scenario forecasts Partial stakeholder success Steady stakeholder growth Stellar stakeholder performance Scenario Two - Compulsion introduced Scenario forecasts Compulsion induced by stakeholder pension failure Steady stakeholder growth - Datamonitor's view Action Points Appendix Research detail Methodology Definitions Life insurance Individual long-term insurance Corporate pensions Retail investment funds Distribution channels Further reading Bibliography Wider readings Relevant links SPP writing team How to contact (c) Datamonitor 2001. All Rights Reserved. |
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