Industry Analysis & Industry Trends
The Pension Funding industry gives those that no longer work an income. The UK pension system comprises a mandatory state component and a private component, but the Pension Funding industry excludes the state pension system. The industry has endured challenging conditions over the past five years. Since the onset of the financial crisis in 2008, financial markets have remained highly volatile, resulting in investment returns fluctuating. At the same time, voluntary contributions have fallen. Despite these pressures, industry revenue – calculated as the change in investment income plus contributions – is expected to increase at a compound annual rate of 4.8% over the five years through 2013-14... purchase to read more
Industry Report - Industry Products Chapter
The pension system provides replacement income for people no longer earning an income. The UK pension system is made up of a mandatory state component and a private component. State pensions are not covered by the industry.
The private pension system is composed of occupational pensions, which are provided by employers, and personal pensions. Contributions to occupational pensions are paid by either employers alone or both employers and employees. Occupational schemes are provided by companies in both the private and public sector. Personal pensions are funded entirely by an individual's contributions.
Pension schemes generally take one of two forms: defined benefit (DB) or defined contribution (DC) schemes... purchase to read more