Personal and Stakeholder Pensions - UK - March 2014:Industry Trends, Size and Shares Research Report @ http://www.researchmoz.us/personal-and-stakeholder-pensions-uk-march-2014-report.html

1. Personal and Stakeholder Pensions - UK - March 2014
Although at first glance the government’s pension auto-enrolment scheme can be seen as a threat to the personal pensions market, rising interest in
pensions and retirement savings, particularly among younger savers, is an encouraging sign. Appealing to the younger generation will have to involve fresh and
innovative ways of educating and engaging with them through a range of channels.
table Of Content
introduction
abbreviations
executive Summary
the Market
little Prospect For Growth Over The Next Five Years
figure 1: Forecast Of New Personal And Stakeholder Pension Business (regular Premiums Only) – Fan Chart, 2008-18
new Personal And Individual Stakeholder Pension Business Falls Sharply In 2013
figure 2: New Personal And Individual Stakeholder Pension Business – Regular And Single Premiums, 2009-13
independent Advisers Dominate Distribution
competitive Position Of Personal And Stakeholder Pensions Has Deteriorated
growing Interest In Sipps Increases Competitive Pressures
market Factors
improvement In Uk’s Economic Performance Boosts Consumer Confidence
pension Auto-enrolment In Full Swing
impact Of Rdr Reforms On The Adviser Market
companies, Brands And Innovation
top Five Personal Pension Providers Control Nearly Two Thirds Of The Market
personal And Stakeholder Pension Advertising Is Halved In 2013
limited Innovation In The Personal And Stakeholder Pension Market
recent Product Development Driven By The Rdr
the Consumer
just One In Seven Regularly Contribute To A Personal Pension
figure 3: Active Pension Ownership, December 2013
48% Of Those Not Actively Contributing To A Pension Have No Retirement Savings At All
figure 4: Reasons For Not Contributing To A Pension, December 2013
auto-enrolment Increases Recent Workplace Pension Ownership At The Expense Of New Personal Pensions
figure 5: Length Of Pension Contribution Period, December 2013
over Half Have Retirement Savings Valued Less Than £30,000
figure 6: Value Of Retirement Savings, December 2013
internet And Ifas Are The Most Popular Choices For Pension Advice
figure 7: Sources Of Pension Advice, December 2013
over Two Thirds Of Non-retirees Are Aware Of Auto-enrolment
figure 8: Agreement With Statements About Pensions And Retirement Savings, December 2013
what We Think
issues And Insights
auto-enrolment Generates Opportunity For The Personal Pensions Market
the Facts
the Implications
are Sipps Becoming A Threat To Personal Pensions?
the Facts
the Implications
the Younger Generation Should Not Be Forgotten By Personal Pension Providers
the Facts
the Implications
trend Application
Personal and Stakeholder Pensions - UK - March 2014

2. personal Pension Providers To Target The Self-employed
bringing Personal Pension Products To Consumers
the Next Generation Of Savers
pension Regulation And Legislation
key Points
pension Auto-enrolment Scheme In Full Swing
potential Workplace Pension Charges Cap On The Horizon
impact Of Rdr Reforms On The Adviser Market
state Pension To Be Made Simpler
market Drivers
key Points
improvement In Uk’s Economic Performance Boosts Confidence
figure 9: Gfk Consumer Confidence Barometer, Uk, January 1994-january 2014
income Squeeze Continues
figure 10: Monthly Changes In Rpi And Average Weekly Earnings, January 2009-december 2013
figure 11: Quarterly Changes In The Savings Ratio*, 1998-q3 2013
auto-enrolment Provides A Major Boost To The Occupational Pension Market
figure 12: Total New Insurer-administered Occupational Pension Premiums*, Including Regular And Single-premium Business, 2007-13
growing Interest In The Sipp Segment Of Personal Pensions
figure 13: Total Wealth Management Industry Sipp Assets, 2007-13
isas Can Be Considered Alternative Retirement Saving Strategies
figure 14: Value Of Isa Sales, By Type Of Isa, 2008/09-2012/13
swot Analysis
figure 15: Personal And Stakeholder Pensions – Swot Analysis, 2014
who’s Innovating?
key Points
limited Innovation In The Personal And Stakeholder Pension Market
aviva’s Response To Rdr For Advisers
product Innovation From The Adviser Side
market Size And Forecast
key Points
new Regular-premium Business Continued To Fall Sharply In 2013
figure 16: New Personal Pension And Individual Stakeholder Pension Business, 2009-13
nearly Two Thirds Of New Single-premium Business Is Attributable To Transfers
figure 17: Transfers As A Share Of New Personal And Individual Stakeholder Business, 2009-13
five-year Forecast Of The Value Of Regular-premiums Business
figure 18: Forecast Of New Personal And Stakeholder Pension Business (regular Premiums Only) – Fan Chart, 2008-18
figure 19: Forecast Of New Regular-premium Personal Pension And Individual Stakeholder Pension Business, 2008-18
forecast Methodology
fan Chart Explanation
market Share
key Points
Personal and Stakeholder Pensions - UK - March 2014

3. aviva Holds Its Position As Personal Pension Market Leader In 2012
figure 20: Ranking Of Individual Pension Providers – Uk, By Gwp Relating To Total Individual Pension Business, 2011 And 2012
companies And Products
aviva
company Description
pension Portfolio
distribution
key Financial Data
figure 21: Aviva Plc Value Of New Uk Life And Pensions Business, Q1-q3 2012 And 2013
figure 22: Aviva Plc Uk Long-term Business Market Performance, 2011 And 2012
recent Activity
standard Life
company Description
pension Portfolio
distribution
key Financial Data
figure 23: Standard Life Group Value Of New Uk And Europe Business, Q1-q3 2012 And 2013
figure 24: Standard Life Group Financials For Uk And Europe*, 2011 And 2012
recent Activity
aegon Uk
company Description
pension Portfolio
distribution
key Financial Data
figure 25: Interim Results For Uk Business Of Aegon Group, Q1-q3 2012 And 2013
figure 26: Annual Results For Uk Business Of Aegon Group, 2011 And 2012
recent Activity
lloyds Banking Group
company Description
pension Portfolio
distribution
key Financial Data
figure 27: Lloyds Banking Group Insurance Division Half-year Results, 2012 And 2013
recent Activity
old Mutual
company Description
pension Portfolio
distribution
key Financial Data
figure 28: Old Mutual Wealth Financials On Long-term Savings*, 2011-13
recent Activity
brand Communication And Promotion
key Points
minor Reduction In Overall Advertising Expenditure On Pensions
figure 29: Total Advertising Expenditure On Pension Products And Services (excluding Annuities), 2008/09-2012/13
personal And Stakeholder Pension Advertising Is Halved In 2013
figure 30: Total Advertising Expenditure On Pension And Retirement Income Product, By Sub-category, 2008/09-2012/13
auto-enrolment Keeps Dwp In The Lead As Top Advertiser Of Pensions
figure 31: Top 10 Advertisers Of Pension Products And Services (including Retirement Income Products), 2010/11-2012/13
tv Becomes Most Popular Advertising Channel For Pensions In 2013
figure 32: Total Advertising Expenditure On Pension And Retirement Income Product, By Media Type, 2010/11-2012/13
online Channels Provide An Opportunity For Personal Pension Providers
a Note On Adspend
channels To Market
key Points
new Adviser Model Categories Now In Effect
Personal and Stakeholder Pensions - UK - March 2014

4. independent Advice Dominates Personal Pension Sales In 2013
figure 33: New Personal Pension Business, By Sales Channel, 2013
figure 34: New Personal Pension Business, By Sales Channel, Q1-q4 2013
majority Of Individual Stakeholder Pensions Sold Directly Or Via Restricted Advice
figure 35: New Individual Stakeholder Pension Business, By Sales Channel, 2013
figure 36: New Individual Stakeholder Pension Business, By Sales Channel, Q1-q4 2013
active Pension Ownership
key Points
survey Background
individual Pension Ownership Remains Low While Workplace Pension Ownership Increases Significantly
figure 37: Active Pension Ownership, By Scheme Type, December 2012 And 2013
personal Pensions Remain More Attractive For The Higher Earners
figure 38: Active Pension Ownership, By Highest Rate Of Income Tax Paid, December 2013
pension Ownership Is Lowest Among The Self-employed
figure 39: Active Pension Ownership, By Working Status, December 2013
gender Gap In Pension Ownership And Retirement Savings
figure 40: Active Pension Ownership, By Gender, December 2013
reasons For Lack Of Active Pension Ownership
key Points
almost Half Of Those Not Actively Contributing To A Pension Have No Retirement Savings At All
figure 41: Reasons For Not Contributing To A Pension, December 2013
issue Of Dormant Pension Pots Arises Among The Older Age Groups
figure 42: Reasons For Not Contributing To A Pension, By Age, December 2013
length Of Pension Contribution Period
key Points
auto-enrolment Increases Recent Workplace Pension Ownership At The Expense Of New Personal Pensions
figure 43: Length Of Pension Contribution Period, December 2013
figure 44: Active Pension Ownership, By Length Of Pension Contribution Period, December 2013
value Of Retirement Savings
key Points
more Than One In Five Non-retirees Do Not Know The Value Of Their Retirement Savings
figure 45: Value Of Retirement Savings, December 2013
value Of Retirement Savings Varies With Financial Priorities
figure 46: Value Of Retirement Savings, By Age, December 2013
over-45s Are Risking Their Comfortable Retirement
personal Pension Holders Likely To Save More Towards Retirement
figure 47: Value Of Retirement Savings, By Most Popular Active Pension Ownership, December 2013
figure 48: Value Of Retirement Savings, By Gender And Working Status, December 2013
sources Of Pension Advice
key Points
internet And Ifas Remain The Most Popular Choices For Pension Advice
figure 49: Sources Of Pension Advice, December 2013 And 2012
figure 50: Number Of Sources Of Pension Advice Likely To Be Used, December 2013
rdr Reduces Availability Of Advisers At Banks And Building Societies
pension Advice Preferences Vary With Age
figure 51: Sources Of Pension Advice, By Gender And Age, December 2013
interest In Pension Advice Is Strongest Among The Young Age Groups
professional Sources Of Advice Preferred Among Those With Greater Savings
Personal and Stakeholder Pensions - UK - March 2014

5. figure 52: Sources Of Pension Advice, By Value Of Retirement Savings, December 2013
personal Pension Owners Most Likely To Choose Ifas For Advice
figure 53: Sources Of Pension Advice, By Most Popular Active Pension Ownership, December 2013
attitudes Towards Pensions And Retirement Savings
key Points
over Two Thirds Of Non-retirees Are Aware Of Auto-enrolment
figure 54: Attitudes Towards Pensions And Retirement Savings, December 2013
saving For Retirement In Other Ways Is More Appealing Than Pensions
interest In Personal Pension Products Is Disappointingly Low Among The 45-54-year-olds
figure 55: Level Of Agreement With Statement ‘i Am Interested In Using A Personal Pension Product To Help Save For My Retirement’, By
Gender And Age, December 2013
figure 56: Level Of Agreement With Statement ‘i Am Interested In Using A Personal Pension Product To Help Save For My Retirement’, By
Working Status And Rate Of Tax Paid, December 2013
employed Individuals Are Still Interested In Personal Pensions
false Optimism Or Wise Foresight Among The Younger Age Groups?
figure 57: Level Of Agreement With Statements About Retirement, By Gender And Age, December 2013
struggling 45-54-year-olds Need Support
auto-enrolment Will Intensify The Need For Pension Pot Consolidation
figure 58: Attitudes Towards Pensions And Retirement Savings, By Active Pension Ownership, December 2013
appendix – Market Drivers
figure 59: Uk Quarterly Gdp* Growth, Q4 2006-q4 2013
figure 60: New Insurer-administered Occupational Pension Premiums, By Sub-sector, 2007-13
figure 61: Total New Premiums For Group Personal Pensions (gpps), 2009-13
figure 62: Volume And Value Of Isa Subscriptions, By Type Of Isa, 2008/09-2012/13
appendix – Market Forecast
figure 63: Forecast Of New Personal And Individual Stakeholder Pension Business (regular Premiums Only) – Best- And Worst-case Scenario, 2013-18
appendix – Channels To Market
figure 64: New Personal Pension Business, By Sales Channel, 2008-12
figure 65: New Individual Stakeholder Pension Business, By Sales Channel, 2008-12
appendix – Active Pension Ownership
figure 66: Active Pension Ownership, By Demographics, December 2013
figure 67: Active Pension Ownership, By Demographics, December 2013 (continued)
appendix – Reasons For Lack Of Active Pension Ownership
figure 68: Reasons For Not Contributing To A Pension, By Demographics, December 2013
figure 69: Reasons For Not Contributing To A Pension, By Demographics, December 2013 (continued)
appendix – Length Of Pension Contribution Period
figure 70: Length Of Pension Contribution Period, By Demographics, December 2013
figure 71: Length Of Pension Contribution Period, By Demographics, December 2013 (continued)
Personal and Stakeholder Pensions - UK - March 2014

6. appendix – Value Of Retirement Savings
figure 72: Value Of Retirement Savings, By Demographics, December 2013
figure 73: Value Of Retirement Savings, By Demographics, December 2013 (continued)
appendix – Sources Of Pension Advice
figure 74: Sources Of Pension Advice, By Demographics, December 2013
figure 75: Sources Of Pension Advice, By Demographics, December 2013 (continued)
number Of Sources Of Pension Advice
figure 76: Number Of Sources Of Pension Advice Likely To Be Used, By Demographics, December 2013
appendix – Attitudes Towards Pensions And Retirement Savings
figure 77: Agreement With The Statement ‘i Am Aware Of The Workplace Pension Automatic Enrolment Scheme Being Introduced By The
Government’, By Demographics, December 2013
figure 78: Agreement With The Statement ‘i Would Prefer To Have Only One Pension Scheme Rather Than Manage Several Schemes’, By
Demographics, December 2013
figure 79: Agreement With The Statement ‘i Would Prefer To Save For My Retirement Through A Company/workplace Pension Scheme’, By
Demographics, December 2013
figure 80: Agreement With The Statement ‘i Think There Are Better Ways To Save For Retirement Than In A Pension’, By Demographics,
December 2013
figure 81: Agreement With The Statement ‘i Am Interested In Using A Personal/individual Pension Product To Help Save For My Retirement’,
By Demographics, December 2013
figure 82: Agreement With The Statement ‘i Am Confident I Will Have Enough Saved To Enjoy A Comfortable Retirement’, By Demographics,
December 2013
figure 83: Agreement With The Statement ‘i Am Planning To Increase The Amount That I Am Saving For My Retirement In The Next 12
Months’, By Demographics, December 2013
figure 84: Agreement With The Statement ‘i Am Relying On My Employer To Make My Pension Arrangements’, By Demographics, December
2013
figure 85: Agreement With The Statement ‘i Am Planning To Seek Professional Advice About My Pension Options’, By Demographics,
December 2013
figure 86: Agreement With The Statement ‘i Am Not Interested In Pensions Or Saving For My Retirement’, By Demographics, December 2013
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Personal and Stakeholder Pensions - UK - March 2014