Stay ahead of the curve and future-proof your business with Mintel’s UK Annuities and Income Drawdown Market Report 2023. Our full report is packed with consumer-led market intelligence, the latest retirement income market research, trends and consumer behaviours affecting your business. Get a 360° view of the annuities and income drawdown market UK including market size, share and forecasted growth to help you align your business strategy with the needs of your audience.
Below, we’ve handpicked the key insights analysed in the full report and summarised the core topics.
A growing number of pension savers aged 45+ have postponed their retirement plans as a result of the high cost of living. More generally, there is a growing trend for people to retire later and to do so gradually. The latter has boosted interest in fixed-term products, which can be used to bridge any potential income gap.
Rising base rates revive interest in annuities
The rise in interest rates over the past two years is having a positive impact on the pension annuity market. As annuity rates have risen, the product has become more appealing to pension savers who are moving into the decumulation phase. Providers need to seize this opportunity by continually developing new propositions.
Dashboards will open new opportunities
Pension dashboards, once fully rolled out, will create a host of new opportunities for pension and retirement income providers, as well as advice firms.
Purchase our UK Annuities and Income Drawdown Market Report to receive a five-year forecast, consumer behaviour analysis, and recommendations for market opportunities. Readers of this report may also be interested in our UK Retirement Planning Market Report 2023.
Canada Life, Scottish Widows, Legal & General, Aviva, Just Group, Aegon.
This report, written by Sarah Hitchcock, a leading research analyst, delivers in-depth commentary and analysis to highlight trends in the retirement income market and add expert context to the numbers.
A rejuvenated annuity market and digital developments enabling new innovative solutions make this an exciting time for providers of retirement income products.
Sarah Hitchcock,
Global Analyst
Mintel is the world’s leading market intelligence agency. We show you how consumers think today and tomorrow. As a trusted partner to industry leaders, we deliver game-changing insights to businesses across the globe, fuelling their marketing and innovation strategies that will shape the future.
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