Examines the market for Personal Pensions and Individual Stakeholder pensions between 2000 and 2004e, using ABI data to identify the key trends in the market over that period. Provides detailed information on distribution of these products and the forces at work in the market, before giving Datamonitor's forecasts for the development of the market to 2008.
Scope
* The report sizes the Individual Pensions market using ABI data and provides details of the distribution of these products
* Extensive in-depth interviews were conducted with leading players in the market to ascertain the key concerns and predictions for the coming years
* Datamonitor's qualitative and quantitative forecasts for the individual pensions markets and distribution of products between 2004 and 2008.
Highlights
The UK pensions market is facing a major upheaval, primarily through the impact of forthcoming regulatory reforms. Pensions simplification will change the way pensions are regulated but will also impact the commercial market. At the same time distribution of pensions will be affected by depolarisation and the introduction of basic advisers.
The Personal Pension market as a whole declined by a compound annual rate of 18% between 2000 and 2004e, with the introduction of Stakeholder products shifting new business away from Personal Pensions rather than boosting the size of the total market.
'A-day' in 2006 will lead to a smaller, simpler product market in the individual pensions space. Pensions simplification will enable providers to develop new, more focused product ranges, utilizing the benefits of the simplified tax regime
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