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Pension Funding in the UK: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Pension Funding Market Research Report | SIC K65.300 | Oct 2016

Contributions benefit: Automatic enrolment and increased employer contributions support growth

IBISWorld’s Pension Funding market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

Report Snapshot
Market Share of Companies
There are no companies with a dominant market share
Industry Statistics & Market Size
Revenue
£126bn
Annual Growth 12-17
4.8%
Annual Growth 17-22
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Profit
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Employment
36,218
Businesses
54,875
Industry Analysis & Industry Trends

The industry only includes private pensions and excludes state pensions. Industry revenue, which is calculated by combining contributions and investment returns, increased over the past five years. The increase in contributions was fuelled by the phased introduction of automatic enrolment in pension schemes, which began in October 2012. Unemployment levels also fell, which supported the industry because contributions to occupational pension schemes tend to rise when more people are in work. Nevertheless, the Retail Distribution Review, which came into effect in 2013, is expected to have constrained the increase in contributions. Investment income grew over the period, despite some volatility, aided by significant quantitative easing activity... purchase to read more

Industry Report - Starting a New Business Chapter

The Pension Funding industry has moderate barriers to entry. Barriers are higher for occupational schemes, which require employees to make contributions.

Larger funds enjoy substantial economies of scale with regards to investment options and fund expenses. These funds have the capacity to invest in asset classes such as commercial property and alternative investments, which may be beyond the reach of smaller funds. Larger pension funds also have lower average costs per member because fixed costs can be distributed more evenly, unlike smaller funds that cannot spread the burden of managing a pension fund as successfully as a larger fund.

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Industry ProductsRelated ReportsTable of Contents

What is the Pension Funding Industry?

The Pension Funding industry provides retirement benefits for people no longer earning an income. The industry includes both occupational and personal pension schemes. State pensions are excluded from this industry.

Industry Products
Defined benefit schemesDefined contribution schemes
 
Industry Activities
Operating occupational pension schemesOperating personal pension schemes


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