Retirement Planning - UK - February 2020
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The process of saving and funding retirement is almost unrecognisable from how it was just a decade ago. The shift from DB to DC schemes and pushing up the state pension age has increasingly moved the onus for retirement saving from companies and government to the individual. Pension freedoms have provided unprecedented flexibility in what people can do with their money, helping offset low annuity rates and better reflect the diverse choices people make in retirement.
At the same time auto-enrolment has led to a huge increase in proportion of employees saving into workplace pensions. But there is a risk that the automatic nature of the system will mean fewer people actively engage with their pension. Relying on auto-enrolment can reduce the impetus for people to increase their contributions to an adequate level, while also leaving them unprepared for the complex decisions they have to make later in life.
“More people are saving for retirement than ever before, but that doesn’t mean they’re saving enough. A transformation in how we live and work demands a fundamental rethink of how longer-term savings are designed, to ensure they remain relevant and realistic in preparing people for the future, whatever it may bring.”
– Thomas Slide, Senior Financial Services Analyst
This report examines the following issues:
This report will give you a complete 360-degree view of your market. Not only is it rooted in robust proprietary and high-quality third-party data, but our industry experts put that data into context and you’ll quickly understand:
What They Want. Why They Want It.
Who’s Winning. How To Stay Ahead.
Size, Segments, Shares And Forecasts: How It All Adds Up.
New Ideas. New Products. New Potential.
Where The White Space Is. How To Make It Yours.
What’s Shaping Demand – Today And Tomorrow.