Industry Analysis & Industry Trends
The Pension Funding industry provides an income for those that no longer work. 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 volatile conditions over the past five years. Voluntary contributions came under pressure due to high levels of unemployment and falling real incomes. However, automatic enrolment in pension schemes, which was introduced in October 2012, positively influenced contributions. Meanwhile, significant quantitative easing activity undertaken during the past five years, combined with historically low interest rates, propelled financial markets and stimulated investment returns, contributing to growth... purchase to read more
Industry Report - Industry Analysis Chapter
The Pension Funding industry plays a vital role in giving Britons financial security. Many people consider the state pension alone too little to live on, so most rely on either an occupational or personal pension to provide for their retirement.
The industry has endured a turbulent and transformative five years. Bleak macroeconomic conditions in the United Kingdom, high unemployment and falling real incomes have adversely influenced voluntary contributions. However, upturn in financial markets following heavy falls during the financial crisis positively influenced investment returns. Meanwhile, the government introduced long-awaited pension reforms, which are expected to transform the industry over the coming years... purchase to read more