SIPPs - UK - December 2016

SIPPs - UK - December 2016

  • Mintel
  • January 2017
  • Banking
  • 0 pages

Report Description

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The SIPP market is increasingly diverging into two separate areas: lower-cost and lower-value platform SIPPs and full-range bespoke SIPPs. Despite the many challenges ahead, there is a place for both plan types. Bespoke providers will have to hold greater levels of capital, and yet more of them may be forced out of the market. But those who remain and employ stringent due diligence processes should be stronger as a result, contributing to a leaner and fitter marketplace.

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Table of Content

Overview

What you need to know
Products covered in this Report

Executive Summary

The market
Total SIPP assets are now worth £183 billion
Figure 1: Proportional distribution of volume and value of SIPPs in force, by sector, as August 2016
Annual sales are predicted to rise to over 1 million by 2021
Figure 2: Forecast of the volume of regulated SIPP sales – Fan chart, 2011-21
Distribution mix
Various factors driving demand…
but there are many market pressures too
Companies and brands
Top five SIPP providers
Figure 3: Estimated market share of the largest five SIPP providers, by AUA, 2016
Market contraction continues
Providers increase technology investment
The consumer
Around 3% of UK adults have a SIPP
A small proportion of SIPP investors hold non-standard assets
Figure 4: Investments held within SIPP, September 2016
Fund switching and transfer activity
Figure 5: Recent activity relating to SIPP investment strategy, transfers and switching, September 2016
Recent decumulation activity
Figure 6: Recent activity relating to SIPP decumulation, September 2016
Recent changes to contribution levels
Figure 7: SIPP contribution levels over the past year, September 2016
18% expect to increase their SIPP contributions over the coming year
Figure 8: Expected SIPP contribution levels over the coming year, September 2016
Fund monitoring frequency
Figure 9: SIPP account monitoring frequency, September 2016
Preferred channel to access account
Figure 10: Preferred channel to access SIPP account, September 2016
Decumulation timeframe
Figure 11: Length of time planning for SIPP fund to last, September 2016
SIPP investor strategies
Figure 12: Approaches to SIPP investing and decision-making, September 2016
What we think

Success Stories

Our Clients

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