Market Trends of UK Pension Fund Industry
Ageing population rate in United Kingdom affecting United Kingdom Pension Funds Market
As a country's population grows, there is naturally an increase in the aging population and the number of people reaching senior or retirement age. The United Kingdom had observed a steady increase in population growth over the period, and it observed a population level of 67.02 million, a small decline from its level.
With this demographic of continuous increase in the aging population, the pension funds market establishes itself as an emerging opportunity for the United Kingdom. During the previous year, almost 5% of the total population existed in the age group above 60, and around 6% in the age group 55-59 were nearing retirement age. In the current year, the United Kingdom had 0.847 million people in the age group of 60, which is expected to increase further. This trend shows a positive market for pension funds in the United Kingdom.
Increase in pension investment opportunity affecting Pension Funds Market in United Kingdom
With the growing industrialisation and the IT sector employing a large number of the population companies are shifting from pay-as-you-go pension schemes towards funding pension arrangements. With this companies invest individual saving in financial assets making pension funds key investors in both listed and non-listed firms.
The number of Workforce jobs in the United Kingdom observed a continuous increase over the years, with around 35 Mn population engaged in a job during last year. This creates an increase in pension fund accounts being created for employees and creates a positive environment for investment in the Pension funds market and creates benefits for the employees as well as the company.
