UK High Net Worths: The future of retirement planning 2012

Wealthy individuals have diverse retirement finance needs. This report assesses wealthy consumers and the pension products they use. It contains analysis of the proposed tax and pension contribution changes that will affect wealthy individuals. The report gives forecasts of how pensions will grow and how competitors can win in the retirement planning wealth market.

Features and benefits

• Identify and effectively target HNW consumers whose expansive lifestyles require much greater levels of income in retirement.
• Enhance knowledge of how tax developments either inhibit or encourage HNWs in to saving towards retirement through a pension plan.
• Provides analysis of the key at-retirement products for HNWs, including how the economic climate will affect demand for them.
• Key competitor benchmarking analysing how insurers compare to non-insurers in terms of the average wealth they attract to their pension schemes.

Highlights

Wealthy individuals are a non-standard consumer segment and form a minority of the population. In the UK there are approximately 9.5 million affluent individuals with £30,000 or more in liquid assets, accounting for 20% of the adult population.

Wealthy individuals characteristically have a wide portfolio of investments, designed to meet specific needs, such as aggressive growth, tax minimization or protection. The customer can elect to have a high level of self-control or can choose to have their portfolios wholly managed on their behalf.

Wealthy individuals in the UK who want to invest in private pensions do so using self-invested personal pensions (SIPPs). SIPPs are mostly sold through channels offering high quality advice to clients and are especially suitable retirement vehicles for the wealthy as they offer more facilities than a personal pension.

Your key questions answered

• How advisors and providers can effectively align their business structure to adapt to changing consumer needs in the current economic climate.
• Identify threats that face HNW clients in 2012. Analysing how and why consumers are delaying retirement despite commanding significant wealth.
• Identify which retirement products providers should focus on with regards to innovation, taking in to account HNWs optimum risk exposure.