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 - Industry Key Buyers Chapter
The level of concentration in the Pension Funding industry is low, because the top four major players are estimated to account for only 10% of the industry's total assets under management. The level of concentration has remained low over the past five years. The largest pension fund in terms of assets under management is the Universities Superannuation Scheme. Each of the top four funds account for only a small portion of the industry, and none have a share of more than 5% in terms of assets under management.
The level of concentration is expected to increase marginally over the next five-year period. This is partly due to the introduction of automatic enrolment in October 2012, which made employers contributions mandatory. Pot.. purchase to read more