Introduction

This report looks at the changing way in which people are addressing their finances. In the wake of the global economic crisis, consumers are more risk aware and have a distinct lack of trust in financial institutions. The change that the pensions and retirement market has seen recently and will see going forward has resulted in consumers taking a more hands-on approach to their finances.

Features and benefits

• Looks at the changing attitudes of consumers towards their finances and indentifies key trends that are affecting the pensions market.
• Considers the mistrust consumers have in financial institutions, resulting in a low level of engagement in long term savings.
• Identifies alternative products in which consumers can store their wealth until retirement and which they use as a provision of income in retirement.

Highlights

The way in which consumers are approaching retirement is changing as issues such as longevity impact on retirement plans. Many consumers are realising that entering into full retirement at pensionable age will become less common, with changes in legislation supporting the older workforce.

Your key questions answered

• Make informed market entry decisions based on understanding key consumer issues.
• Identify new distribution opportunities from the assessment of current market developments.
• Enhance your company strategy underpinned by vital consumer insight.