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The UK Retirement Market is undergoing a sustained and permanent transformation.

The characteristics of customers coming into retirement is slowly changing with the baby-boomer generation increasingly coming into retirement and needing products to help them fund the retirement lifestyles that they desire. This generation is broadly characterised by the following attributes, they are:

  • Home owning and are comfortable with debt
  • Enjoying better health than any previous generation of retired people
  • Better educated
  • Remaining very active
  • Participating in associations
  • More aware of choice in private provision

Just The Facts

ER Quick Facts

We are saving £27 billion less every year than we need to if we are to enjoy a comfortable retirement.*

  • Only 47% of people of working age have any pensions savings in excess of state provision**
  • 15% of people aged 45-54 say that they are likely or very likely to purchase an equity release scheme at some time in the future.***

Source
* Research carried out by Oliver, Wyman and Co under sponsorship from the ABI 2001
** Deloitte 2002
*** Council of Mortgage Lenders – Hanover Housing Association 2004

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Useful websites

http://www.ship-ltd.org
http://www.ageconcern.org.uk

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