Stay ahead of the curve and future-proof your business with Mintel’s UK Personal Pensions Market Report 2023. Our full report is packed with consumer-led market intelligence, the latest UK pension market research, trends and consumer behaviours affecting your business. Get a 360° view of the UK pension market, 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.
2023 has been characterized by a cost of living crisis, volatility in public markets and dwindling consumer confidence resulting in priorities shifting to nearer-term financial obligations. In addition, stricter regulations continues to suppress transfer activity, the predominant driver of new business in the UK pension market.
Opportunities to narrow the pension gap
The gender pension gap has been a persisting issue within the pension industry. However, the introduction of auto-enrolment seems to have bridged the gap within workplace retirement planning. However, in personal pensions that gap still persists.
Branching out into pension education
The new customer-centric focus in personal pensions leads to new opportunities for pension providers to expand into more advisory services and educational content. Building out educational material, and offering advice services are positive ways providers can innovate their business to meet both changing regulations and growing demand.
Purchase our UK Personal Pensions 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.
PensionBee, Wealthify, Hargreaves Lansdown, Smart Pension, Scottish Widows.
This report, written by Charlie Landsborough, a leading research analyst, delivers in-depth commentary and analysis to highlight trends in the delivery and collection market and add expert context to the numbers.
Personal pensions providers continue to face stern challenges as auto-enrolment dominates the pension space, while regulatory and economic headwinds limit demand.
Charlie Landsborough
Financial Services 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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