Impact of Pension Changes Wave 12

5000 + VAT



The Impact of Pension Changes, May 2017 report is the 12th in a series of Pension and Annuity Tracker reports, which have been published regularly since Summer 2014. This report assesses changes since the previous research was run and examines how the new rules governing pensions and annuities (introduced in the March 2014 Budget) may lead to significant changes in consumer behaviour as people near retirement.

In particular, it aims to measure consumers’ responses to the new rules, providing companies with significant insight into how people intend to act. It also considers whether those intentions are subsequently correlative with actions, in this new “competitive and dynamic retirement income market” (HM Treasury: Freedom and Choice in Pensions, March 2014).


Furthermore, the Recently-Retired Supplemental Survey monitors those who have retired since April 6th, 2015 to gauge the extent to which these changes are influencing actual behaviour. YouGov is the only research company in the UK market able to offer access to this exclusive audience on a syndicated basis.  YouGov Reports conduct an online survey of up to 750 UK adults who have retired on or since 6th April 2015 each quarter, delivered as a datasheet with a full demographic breakdown.


This edition of the series is the fourth under the new name, The Impact of Pension Changes. For this wave of research, YouGov Reports commissioned a survey among YouGov’s panel, surveying 2,463 consumers aged 50+ who are not retired – i.e. consumers who are approaching retirement and are likely to have retirement issues at the forefront of any financial planning.
 
Report Info
Table of Contents
  • Table of Figures
  • Introduction & Scope
    • Report coverage
      • Definitions
      • Research Waves
      • Methodology
      • Abbreviations
  • Report Overview
    • Some signs that annuities are regaining appeal
  • Report Summary
    • Almost one in five DC pension holders may get an annuity…
      • Key facts
      • …but it’s going to be hard to advise them what their best options are
      • Pension freedoms are encouraging withdrawals
      • Workplace pension shift continues
  • Background
    • Key findings
      • Almost seven in 10 over-50s have a workplace pension
      • Pension pot consolidation remains rare
  • Withdrawals and Lump Sum Taking
    • Key findings
      • Increased impact of the new pension freedoms
      • A rise in withdrawal taking
      • Some 4% affected by new rules have made a withdrawal
      • Current withdrawals increase slightly in April 2017
      • Future withdrawal intentions fall slightly
      • Cash-in-hand continues to be the main preference
      • Some signs that tax efficiency is declining as a factor when making withdrawals
  • Impact of the Reforms: New Approaches to Pensions
    • Key findings
      • The percentage of DC pension holders changing their pension actions rises
      • Three main courses of action
      • 26%-30% of DC pension holders will be taking a lump sum
      • Income remains the main priority
      • If they could, those making a withdrawal would like to take out more
      • Annuities: around one-third express an interest
      • Desire to spend a lump sum is declining
      • Cash regains some of its appeal
  • Retirement Strategies and Outcomes
    • Key findings
      • The outcome gap persists…
      • …as does considerable uncertainty
      • It remains true that the smaller the gap, the easier it is to withdraw cash
      • Four in 10 will continue to work
  • Impact of the New Rules: The Advice Deficit
    • Key findings
      • An increasing reluctance to pay for advice and guidance
      • Interest in Robo-Advice continues to wane
  • Market Trends
    • Key findings
      • Aged 50+ with a pension and affected
      • Just under 9 million pension holders aged 50+
  • Appendix
Cashing in Reports
How to increase your cashless customer base in: Great Britain, United States, Germany, Denmark, Sweden, Malaysia, Indonesia and China
Free
Inside the Mindset: The Beautiful People
How to beautify your brand for the beautiful people
Free (for a limited time only)
Ticket Re-selling
Should ticket reselling sites be banned?
Free (for a limited time only)
Funeral Planning
£5,000 + VAT
Buying Scottish Food and Drink
Brexit drives Brits to buy British…but only if the price is right
£1,500 + VAT
Bridging the Young Adults Pension Gap
Four in ten millennials have no pension provision...
Free (for a limited time only)
Tabuthemen im Gesundheitsbereich
Patienten bei Beschwerden abholen, über die zu sprechen schwerfällt
kostenlos
Self-Checkout
Wie Sie mit dem Wissen über die Potenzialgruppe und Skeptiker über die Einführung von SB-Kassen entscheiden.
kostenlos
Deutschland sammelt
Sammelaktionen im Einzelhandel als Mittel zur Kundenbindung
kostenlos
Virtual Reality - Trend oder Hype?
Wie zukunftsträchtig ist VR-Technologie bei der Unternehmenskommunikation?
kostenlos
Vorsicht, Hacker!
Wie Unternehmen bei ihrer Kommunikation mit Cyber-Angriffen umgehen sollen
kostenlos
Sorglos Reisen leicht gemacht
Wie die Lücke zwischen Absicherung und Ängsten erfolgreich in der Kommunikation geschlossen werden kann
kostenlos
Spieglein, Spieglein auf dem Smartphone
Wie Online-Händler von Virtual Dressing Rooms profitieren können
kostenlos
Dieselgate - Gefahr und Chance?
Wie sich der Dieselskandal und die Kartellvorwürfe auf Vertrauenswürdigkeit und Absatz der Automobilbranche auswirken
kostenlos
Fahrerlos auf Kurs
Wie Automobilhersteller von autonomen Dienstleistungskonzepten profitieren können
500€ zzgl. gesetzl. MwSt.
Kommunikation per Chatbot
Sind Ihre Kunden bereit für das nächste Level des Kundenservice?
kostenlos