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Consumers And Pension Auto-
Enrolment - UK - September 2013
The true test of auto-enrolment is
how SMEs handle the administration
of schemes as they approach their
staging dates. There are expectations
that opt-out rates will be higher
amongst these smaller employers,
and that the employers themselves will be ill prepared to deal
with the implementation of the scheme.
To Read The Complete Report with TOC:-
http://www.marketresearchreports.biz/analysis-
details/consumers-and-pension-auto-enrolment-uk-september-
2013
TABLE OF CONTENT
Introduction
Abbreviations
Executive Summary
Consumers and workplace pensions
Two thirds of workers have access to a company pension
Figure 1: Consumers and company pensions, July 2013
Pension market overview
New insurer administered occupational pension business
struggling
New GPP business grew in 2012
Personal and stakeholder pensions set to suffer further
Market factors
October 2012 saw the start of auto-
enrolment
Early figures indicate that the scheme
has got off to a good start
The Pensions Regulator is taking a
firm approach in assuring compliance
Increased longevity is part of the
justification for auto-enrolment
Ban on consultancy charging
ABI members set to disclose fees and charges upfront
Clause in the pensions bill could see small firms exempted from
auto-enrolment
Intermediaries prepare for a busy phase of auto-enrolment
Market consolidation is expected in the coming years
The consumer
Auto-enrolment will help to address the gap in private sector
pension provision
Figure 2: Type of employer, July 2013
Awareness of auto-enrolment is high among employees
Figure 3: Awareness of pension auto-enrolment, July 2013
Less than a fifth plan to opt-out
Figure 4: Likelihood of opting-out of auto-enrolment, July 2013
Affordability will be the main driver of opt-outs
Figure 5: Reasons for opting-out of auto-enrolment, July 2013
Transferable pensions are attractive
Figure 6: Workplace pension preferences, July 2013
Employees crave employers support around pension saving
Figure 7: Views about pension auto-enrolment, July 2013
What we think
Request Sample Report @
http://www.marketresearchreports.biz/sample/sample/175538
Issues in the Market
Will the success of auto-enrolment
continue as smaller companies reach
their staging date?
How can the number of people opting-
out be managed?
How can providers maintain
engagement and keep people
enrolled?
Are we likely to see compulsory auto-enrolment in the future?
Trend Application
Auto-enrolment complexities require a considered approach
from employers
Decline of deference 33% better ways to save
Technology will change the way that workers engage with their
pensions
Market Drivers
Key points
Auto-enrolment is up and running
DWP research shows that opt-out rates are 9%
Early stats and figures are encouraging
SMEs will mainly rely on NEST
But some companies are missing their staging dates
The implementation of auto-enrolment will rely on support
functions
Increased longevity has driven the need for pension reform
Figure 8: Life expectancy at 65, 1981-2058
An ageing population is set to put pressure on government
finances
Figure 9: Projected size of the UK
population, by age band, 2012-56
MPs have called for a new regulator to
regulate workplace pensions
ABI members set to disclose
workplace pension fees upfront
About Us:
Marketresearchreports.biz is the most comprehensive collection
of market research reports. Marketresearchreports.biz services
are especially designed to save time and money of our clients.
We are a one stop solution for all your research needs, our main
offerings are syndicated research reports, custom research,
subscription access and consulting services. We serve all sizes
and types of companies spanning across various industries.
With a team of experienced consultants we are committed to
serve our clients in a way which increase their efficiency, reduce
costs and saves time. Our professional search engine helps you
in finding the best and latest market research report with just
one click of the mouse. Our database represents the most
updates and latest market research report collections form all
the leading market research publishers across the globe.
Contact:-
M/s Sheela
90 Sate Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-997-4948
Email: sales@marketresearchreports.biz
Website: http://www.marketresearchreports.biz/
Blog: http://Chinamarketsbuzz.wordpress.com/

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Consumers And Pension Auto-Enrolment - UK - September 2013: Deep Market Research Report

  • 1. Consumers And Pension Auto- Enrolment - UK - September 2013 The true test of auto-enrolment is how SMEs handle the administration of schemes as they approach their staging dates. There are expectations that opt-out rates will be higher amongst these smaller employers, and that the employers themselves will be ill prepared to deal with the implementation of the scheme. To Read The Complete Report with TOC:- http://www.marketresearchreports.biz/analysis- details/consumers-and-pension-auto-enrolment-uk-september- 2013 TABLE OF CONTENT Introduction Abbreviations Executive Summary Consumers and workplace pensions Two thirds of workers have access to a company pension Figure 1: Consumers and company pensions, July 2013 Pension market overview New insurer administered occupational pension business struggling New GPP business grew in 2012 Personal and stakeholder pensions set to suffer further Market factors
  • 2. October 2012 saw the start of auto- enrolment Early figures indicate that the scheme has got off to a good start The Pensions Regulator is taking a firm approach in assuring compliance Increased longevity is part of the justification for auto-enrolment Ban on consultancy charging ABI members set to disclose fees and charges upfront Clause in the pensions bill could see small firms exempted from auto-enrolment Intermediaries prepare for a busy phase of auto-enrolment Market consolidation is expected in the coming years The consumer Auto-enrolment will help to address the gap in private sector pension provision Figure 2: Type of employer, July 2013 Awareness of auto-enrolment is high among employees Figure 3: Awareness of pension auto-enrolment, July 2013 Less than a fifth plan to opt-out Figure 4: Likelihood of opting-out of auto-enrolment, July 2013 Affordability will be the main driver of opt-outs Figure 5: Reasons for opting-out of auto-enrolment, July 2013 Transferable pensions are attractive Figure 6: Workplace pension preferences, July 2013 Employees crave employers support around pension saving Figure 7: Views about pension auto-enrolment, July 2013 What we think Request Sample Report @ http://www.marketresearchreports.biz/sample/sample/175538
  • 3. Issues in the Market Will the success of auto-enrolment continue as smaller companies reach their staging date? How can the number of people opting- out be managed? How can providers maintain engagement and keep people enrolled? Are we likely to see compulsory auto-enrolment in the future? Trend Application Auto-enrolment complexities require a considered approach from employers Decline of deference 33% better ways to save Technology will change the way that workers engage with their pensions Market Drivers Key points Auto-enrolment is up and running DWP research shows that opt-out rates are 9% Early stats and figures are encouraging SMEs will mainly rely on NEST But some companies are missing their staging dates The implementation of auto-enrolment will rely on support functions Increased longevity has driven the need for pension reform Figure 8: Life expectancy at 65, 1981-2058 An ageing population is set to put pressure on government finances
  • 4. Figure 9: Projected size of the UK population, by age band, 2012-56 MPs have called for a new regulator to regulate workplace pensions ABI members set to disclose workplace pension fees upfront About Us: Marketresearchreports.biz is the most comprehensive collection of market research reports. Marketresearchreports.biz services are especially designed to save time and money of our clients. We are a one stop solution for all your research needs, our main offerings are syndicated research reports, custom research, subscription access and consulting services. We serve all sizes and types of companies spanning across various industries. With a team of experienced consultants we are committed to serve our clients in a way which increase their efficiency, reduce costs and saves time. Our professional search engine helps you in finding the best and latest market research report with just one click of the mouse. Our database represents the most updates and latest market research report collections form all the leading market research publishers across the globe.
  • 5. Contact:- M/s Sheela 90 Sate Street, Suite 700 Albany, NY 12207 Tel: +1-518-618-1030 USA – Canada Toll Free: 866-997-4948 Email: sales@marketresearchreports.biz Website: http://www.marketresearchreports.biz/ Blog: http://Chinamarketsbuzz.wordpress.com/