UK Retirement Planning Market Trends Report 2018 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “UK
Retirement Planning Market 2018: Market Trends Report”
report
has been added to ResearchAndMarkets.com’s offering.

The retirement options open to consumers today have expanded since
pension freedoms were introduced. But freedom of choice brings with it
the freedom to make mistakes.

Over one-third of adults aged 55-64 who are not retired have taken money
from their pension pots and over one-quarter of adults in this age group
who have withdrawn money in the past two years have taken the whole pot
in cash: in other words, they will not be able to generate a pension
income from these pots. Pension freedoms have been used especially
heavily by individuals with small and medium-sized pension pots to
release the cash within them, even if that means paying marginal rate
tax on the 75% of the withdrawal with is subject to tax.

A real concern is that except with moving pots into drawdown, consumers
often make decisions on their pension pots without getting professional,
financial advice. There is a clear advice gap, especially when it comes
to individuals taking all the pension fund as cash and the tendency to
get advice seems to be declining.

The main purpose of this report is to review the UK pension decumulation
market, i.e. how consumers are taking money from their pensions or how
they are planning to/expect to take money from their pensions. The prime
focus is on decumulation from defined contribution pensions and
especially how the pension decumulation market has changed under the
impact of a series of new legislation which is radically reshaping the
types of pensions consumers have and how they are managing their
pensions.

A sister publication UK Pension Market looks at the accumulation stage,
i.e. how consumers are saving for their retirement. Clearly, there is
overlap between these two, so factors impacting on accumulation will
also be discussed in this report.

Key Topics Covered:

1.0 Executive Summary

2.0 Introduction

3.0 Market Structure

4.0 Market Developments and Drivers

5.0 The Key Players

6.0 Market Size and Trends

7.0 The Future

For more information about this report visit https://www.researchandmarkets.com/research/xbffrl/uk_retirement?w=4

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Related
Topics: Pensions,
Personal
Finance