Research and Markets: Self Invested Pensions Market in the UK is Set for Major Change Following Pensions Simplification Regulation in 2006

Dublin - Research and Markets (http://www.researchandmarkets.com/reports/c22571) has announced the addition of Distributing Self Invested Pensions in the UK, 2005 to their offering

This brief shows how self invested pensions are currently distributed. Independent Financial Advisers (IFAs) are currently the dominant channel for selling these products. However the market is set for major change following Pensions Simplification regulation in 2006, boosting sales and changing distribution patterns.

The brief analyses the market for Self Invested Personal Pensions (SIPPs) and Small Self Administered Schemes (SSASs). It sizes the total market and the insured element of the market and forecasts forward to 2009 and segments the market by seven distribution channels.

Pensions Simplification will have a positive impact on the self invested pensions market, increasing the market for SIPPs. This will have a positive effect on distributors, increasing both the market size and the need for quality distribution and advice.

IFAs are the dominant channel for distributing both SIPP and SSAS products distributing 65% and 63% of premiums respectively. This reflects the domination by IFAs of pensions distribution in the UK more generally. In 2004, individuals regulated as Independent Financial Advisers distributed more than 80% of pensions in the UK.

It is believed that IFAs will see sales in SIPPs grow from below £1bn in 2004 to more than £2bn in 2009. Increasing SIPP sales through the IFA channel will reflect the ability of IFAs to offer the kind of in-depth advice which will be required for New-Style SIPPs.

Reasons to Purchase
- Assess distribution strategies on the basis of the current distribution market
- Develop a forward looking distribution strategy on the basis of distribution forecasts
- Understand the challenges and opportunities which Pensions Simplification regulation offers individual distribution channels

For more information visit http://www.researchandmarkets.com/reports/c22571

Laura Wood
Senior Manager
Research and Markets
press@researchandmarkets.com
Fax: +353 1 4100 980