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SUMMARY
Introduction Sizes the HNW segment in UK and Europe and examines current retirementsolutions. Based on an examination of the tends and drivers for change thereport assesses the future of the pensions market catering for wealthyindividuals and sets out how competitors can win and maintain affluent customersin the new generation. Scope of this report - Sizes the UK and European wealth markets by number of individuals andvolume of liquid assets held
- Draws on primary interviews with leading executives from the pensions andwealth management industries
- Examines SIPPs, SSASs, EPPs and FURBS, assessing their product features,market size and leading competitors
- Forecasts the market for pensions for wealthy consumers to 2008 in lightof the significant changes afoot in the industry
Research and analysis highlights There will be a radical overhaul of the pensions market in 2005. The marketof new generation of pension products designed for wealthy individuals will beworth ?525 million in 2008. SIPP products will undergo massive growth, butother niche products will experience a massive decline after the 'closing downsale' effect of 'A Day'. The proposed ?1.4 million pensions lifetime allowance is little more than ared herring. Consumers taking early career breaks will hardly ever be affected,but high flying graduates and senior executives are likely to be caught in thecap. Datamonitor's model profiles consumer types that will be affected by thenew rules. Key reasons to read this report - Plan your future strategy with clear confidence: Action points highlighthow pension providers, IFAs and wealth specialists can win in wealth.
- Identify the size of the affluent consumer market and the potential of newgeneration products with wealth market data and industry forecasts.
- Assess the changes and challenges facing pensions for the wealthy withanalysis of the key issues and their impact on your business.
TABLE OF CONTENTS
CHAPTER 1 EXECUTIVE SUMMARY - The Wealthy Customer
- Pension products
- Key Issues
- The Future of Pensions for Wealthy Individuals
- Winning in Wealth
CHAPTER 2 THE WEALTHY CUSTOMER - Defining wealth
- The wealth thresholds
- Customer types in the UK
- Wealthy individuals within the UK population
- Number of wealthy individuals in the UK
- Pensions and portfolios
- The wealth of the wealthy ·size of liquid assets
- European wealthy individuals
- Managing wealth
CHAPTER 3 PENSION PRODUCTS - Pensions in the UK
- Why the wealthy need special pensions
- Contributions cap penalizes the wealthy
- Wider choice of investment options open to the affluent
- Self Invested Personal Pensions (SIPPs)
- Customer base
- Product details
- Competition
- Market size
- Executive Pension Plans (EPPs)
- Customer base
- Product details
- Market size
- Small Self-Administered Schemes (SSAS)
- Customer base
- Product details
- Competition
- Market size
- Unapproved Retirement Benefit Schemes
- Customer base
- Product details
- Market size
- Assets under management within wealthy pensions
CHAPTER 4 KEY ISSUES - Pension proposals
- Tax simplification
- The old school
- Single is simple
- The ?1.4 million question
- Key points of the proposal
- A storm in a teacup?
- Datamonitor Pension Wealth Model
- The Working Mum
- The Career Mum
- The Graduate with medium earnings potential
- The Graduate with high earnings potential
- High earning employee taking early retirement
- High earner with a short working history
- Identifying individuals caught in the ?1.4 million trap
- Outside pensions
- Are pensions an issue for the wealthy?
- Retirement investments
- Innovative wealth solutions
- Pensions for the wealthy in Europe
- Pan-European pensions on the horizon?
CHAPTER 5 THE FUTURE OF PENSIONS FOR WEALTHY INDIVIDUALS - The future of the pensions market for wealthy individuals
- The demise of SSASs
- EPP market set to die out
- SIPPs boosted by defectors
- FURBS unnecessary in future
- Market size forecast
- Pensions future will depend on feature differentiation
- Pensions for the masses
- Pensions for the wealthy
CHAPTER 6 ACTION POINTS ·WINNING IN WEALTH - Pension providers
- In the run up to ? Day·
- After ? Day·
- SWOT analysis
- Intermediaries & Advisers
- In the run up to ? Day·
- After ? Day·
- New consumer base
- Lifestyle solutions
- SWOT analysis
- Wealth specialists
- In the run up to ? Day·
- Opportunities
CHAPTER 7 APPENDIX - Supplementary data
- Wealth statistics from Datamonitor? Wealth Model
- Earnings in Britain: results of the New Earnings Survey 2003
- The Global Wealth Model
- Datamonitor Financial Services Consulting
- Current publications
- Forthcoming publications
- Life and Pensions SPP writing team
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