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  5. > Pensions in the UK - Key Trends and Opportunities to 2019

Synopsis
This report is the result of extensive research into the pensions market in the UK, covering its market dynamics, outlook and competitive landscape. It provides details of the market size and projections of new business premiums, and explores the impact of the latest government reforms on pension providers. The report also provides an overview of leading companies, discusses the types of pension schemes and distribution channels for pension products.

Summary
- The report provides market analysis and insights into the UK pensions business.

- It provides a snapshot of the market size and market segmentation.

- It analyzes drivers, regulatory changes and the outlook for the market.

- It provides analysis of distribution channels for pension products.

- It also discusses key competitors and the impact of the new regulations on them.

Scope
- This report provides a comprehensive analysis of the pensions market in the UK.

- It provides estimates for new business premiums for the report’s 2010–2014 review period and the outlook for the market.

- It provides analysis of growth opportunities in the pensions market.

- It discusses changes in the pensions industry with regards to distribution.

- It profiles top pension providers and outlines key challenges facing them.

Reasons To Buy
- Gain an understanding of the UK pensions market and the types of pension schemes.

- Explore market dynamics across individual and workplace pension categories.

- Learn about the key trends expected to shape the future direction of the market.

- Understand key issues for advisers in the post-budget retirement landscape.

- Find out more about the new pension rules and their impact on pension providers.

Key Highlights
- What was the new business premium dynamics in the UK pensions market?

- What is the progress of small and medium-sized employers with auto-enrolment?

- Will the new pension rules create more incentives for people to save?

- How did providers perform in the individual and workplace pension categories?

- What are the key factors expected to shape the future of the pensions market?

Table Of Contents

Pensions in the UK - Key Trends and Opportunities to 2019
Table of Contents
1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 Market Analysis
3.1 Market Size
3.1.1 Individual personal pensions
3.1.2 Workplace pensions
3.2 Individuals Contributing to Personal Pension Schemes
3.3 Active Members of Occupational Pension Schemes
3.3.1 Active members of occupational pension schemes, by sector and benefit structure
3.3.2 Active members of occupational pension schemes, by benefit structure and status
3.4 Workplace Pension Scheme Membership
4 Market Drivers
5 Market Outlook
6 Distribution Channels
7 Competitive Landscape
7.1 Review - The Best Performers of 2014
8 Regulation and Compliance
8.1 Regulatory Framework
8.2 Regulatory Changes
8.2.1 New retirement options available from April 2015
8.2.2 55% pensions ‘death tax' abolished
8.2.3 Pensions tax relief cut for high earners
8.2.4 Lifetime allowance to be reduced
8.2.5 Secondary annuity market delayed until 2017
8.2.6 New flat-rate (single-tier) state pension to be introduced from April 2016
8.2.7 Contracting out to be abolished from April 2016
8.2.8 Auto-enrolment and Nest
8.2.9 Automatic small pot transfers confirmed for Autumn 2016
8.2.10 Pension charges capped at 0.75% from April 2015
8.2.11 Consultancy charges banned from April 2015
9 Economic Backdrop
9.1 Real GDP Growth
9.2 Demographics
9.2.1 Aging population
9.2.2 Old age dependency ratio
9.3 Labor Market
9.4 GDP per Capita and Household Disposable Income
10 Company Profiles
10.1 Aegon UK Plc - Company Overview
10.1.1 Aegon UK Plc - key facts
10.1.2 Aegon UK Plc - main products
10.1.3 Aegon UK Plc - main competitors
10.1.4 Aegon UK Plc - key employees
10.2 Aviva Plc - Company Overview
10.2.1 Aviva Plc - key facts
10.2.2 Aviva Plc - main products
10.2.3 Aviva Plc - main competitors
10.2.4 Aviva Plc - key employees
10.3 Axa UK Plc - Company Overview
10.3.1 Axa UK Plc - key facts
10.3.2 Axa UK Plc - main products
10.3.3 Axa UK Plc - main competitors
10.3.4 Axa UK Plc - key employees
10.4 FIL Life Insurance Ltd - Company Overview
10.4.1 FIL Life Insurance Ltd - key facts
10.4.2 FIL Life Insurance Ltd - main products
10.4.3 FIL Life Insurance Ltd - main competitors
10.4.4 FIL Life Insurance Ltd - key employees
10.5 Legal and General Group Plc - Company Overview
10.5.1 Legal and General Group Plc - key facts
10.5.2 Legal and General Group Plc - main products
10.5.3 Legal and General Group Plc - main competitors
10.5.4 Legal and General Group Plc - key employees
10.6 Lloyds Banking Group Plc - Company Overview
10.6.1 Lloyds Banking Group Plc - key facts
10.6.2 Lloyds Banking Group Plc - main products
10.6.3 Lloyds Banking Group Plc - main competitors
10.6.4 Lloyds Banking Group Plc - key employees
10.7 Old Mutual Plc - Company Overview
10.7.1 Old Mutual Plc - key facts
10.7.2 Old Mutual Plc - main products
10.7.3 Old Mutual Plc - main competitors
10.7.4 Old Mutual Plc - key employees
10.8 St James's Place UK Plc - Company Overview
10.8.1 St James's Place UK Plc - key facts
10.8.2 St James's Place UK Plc - main products
10.8.3 St James's Place UK Plc - main competitors
10.8.4 St James's Place UK Plc - key employees
10.9 Standard Life Plc - Company Overview
10.9.1 Standard Life Plc - key facts
10.9.2 Standard Life Plc - main products
10.9.3 Standard Life Plc - main competitors
10.9.4 Standard Life Plc - key employees
10.10 The Royal London Group - Company Overview
10.10.1 The Royal London Group - key facts
10.10.2 The Royal London Group - main products
10.10.3 The Royal London Group - main competitors
10.10.4 The Royal London Group - key employees
11 Statistics
11.1 Review Period 2010-2014
12 Appendix
12.1 Methodology
12.2 Contact Timetric
12.3 About Timetric
12.4 Timetric's Services
12.5 Disclaim

List of Tables
Table 1: Insurance Industry Definitions
Table 2: UK Active Members of Occupational Pension Schemes, by Sector and Benefit Structure (Millions), 2000-2013
Table 3: UK Pension Tax Relief Available for High Earners from April 2016
Table 4: UK Minimum Contribution Rates Under Auto-Enrolment (% of Qualifying Earnings)
Table 5: Aegon UK Plc - Key Facts
Table 6: Aegon UK Plc - Main Products
Table 7: Aegon UK Plc - Key Employees
Table 8: Aviva Plc - Key Facts
Table 9: Aviva Plc - Main Products
Table 10: Aviva Plc - Key Employees
Table 11: Axa UK Plc - Key Facts
Table 12: Axa UK Plc - Main Products
Table 13: Axa UK Plc - Key Employees
Table 14: FIL Life Insurance Ltd - Key Facts
Table 15: FIL Life Insurance Ltd - Main Products
Table 16: FIL Life Insurance Ltd - Key Employees
Table 17: Legal and General Group Plc - Key Facts
Table 18: Legal and General Group Plc - Main Products
Table 19: Legal and General Group Plc - Key Employees
Table 20: Lloyds Banking Group Plc - Key Facts
Table 21: Lloyds Banking Group Plc - Main Products
Table 22: Lloyds Banking Group Plc - Key Employees
Table 23: Old Mutual Plc - Key Facts
Table 24: Old Mutual Plc - Main Products
Table 25: Old Mutual Plc - Key Employees
Table 26: St James's Place UK Plc - Key Facts
Table 27: St James's Place UK Plc - Main Products
Table 28: St James's Place UK Plc - Key Employees
Table 29: Standard Life Plc - Key Facts
Table 30: Standard Life Plc - Main Products
Table 31: Standard Life Plc - Key Employees
Table 32: The Royal London Group - Key Facts
Table 33: The Royal London Group - Main Products
Table 34: The Royal London Group - Key Employees
Table 35: UK Pensions (Excluding Defined Benefit and Group Managed Fund Business) - New Business Premiums (GBP Thousand), 2010-2014

List of Figures
Figure 1: UK Pensions (Excluding Defined Benefit and Group Managed Fund Business) - New Business Premiums (GBP Billion), 2010-2014
Figure 2: UK Individual Personal Pensions (IPPs) - New Business Premiums (GBP Billion), 2010-2014
Figure 3: UK Workplace Pensions - New Business Premiums (GBP Billion), 2010-2014
Figure 4: UK Number of Individuals Contributing and Average Contributions to Personal Pensions (GBP), 2001/2002-2012/2013
Figure 5: UK Active Members of Occupational Pension Schemes (Millions), 1983-2013
Figure 6: UK Active Members of Private Sector Occupational Pension Schemes (Millions), 1983-2013
Figure 7: UK Employee Membership of a Workplace Pension, by Pension Type (%), 1997-2014
Figure 8: UK Pension Product Sales by Type of Selling Firm (Thousands), April 2013 to March 2014
Figure 9: UK Pensions (Excluding Defined Benefit and Group Managed Fund Business) - Top 10 Providers by New Business Premium, 2014
Figure 10: UK Insurance Regulatory Framework
Figure 11: UK Real GDP (Billion) and Quarter-on-Quarter Growth (%), Quarter 1 2007- Quarter 2 2015
Figure 12: UK Growing and Aging Population (Years), 1995-2014
Figure 13: UK Population Aged Over 65 Years (%), 2007-2019
Figure 14: UK Overall Life Expectancy (Years), 2007-2019
Figure 15: UK Old Age Dependency Ratio (Ratios per 1,000 People of Working Age), 1971-2051
Figure 16: UK Employment and Unemployment Rates (%), Q1 2006-Q2 2015
Figure 17: UK Average Earnings and CPI Annual Growth Rates (%), Q1 2006-Q2 2015
Figure 18: UK Improving Living Standards (GBP), 1997-2013

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