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A rapidly growing market

As the baby boom generation reach retirement, the opportunity for retirement planning advice is unprecedented.

• The UK at-retirement market for financial products is predicted to grow by over 60% during the next five years to £23.1 billion, from £14.1 billion at the end of 2008.¹
• The number of people in retirement is expected to rise from 11.6 million in 2007 to 15 million in 2031.²
• According to the Office of National Statistics there are now more than 900,000 people working beyond the age of 65.³
• In 2012, over 800,000 people will be thinking about retiring (that's the number that reach 65 in 2012).⁴

But what do your clients really want?

Now, with more options to create income than ever before – and more opportunities to build your retirement business – it's worth understanding your clients' priorities, and what you can do to help them get the retirement they want.

Your advice is crucial to help people make the right decisions for their future:

• 47% of people are worried that they will not have enough money to live on in retirement.⁵
• 45% of people expect the State Pension to be their main source of income in retirement.⁵
• 83% of the over 55s are worried about the rising cost of living and how they will manage in retirement.⁶

It's clearly the right time to get involved in this market, so start talking to your clients about their retirement needs today.

You can find further interesting insights about the at-retirement market in our latest Real retirement report (PDF 718KB).

1. Watson Wyatt, July 2009
2. Datamonitor, The Changing Face of the UK At-Retirement Market, 2009
3. Office of National Statistics, Labour Market Statistics, March 2011
4. Department for Work and Pensions, Dramatic rise in pensioners as baby boomers enter golden years, September 2010
5. Marketing Sciences, At Retirement Monitor, 2009
6. Opinion Matters online research, February 2011