£133.6bn
£XX.Xbn
35,975
57,771
£X.Xbn
Pension funds are undergoing a period of change. The past decade has marked a shift from defined benefit (DB) to defined contribution (DC) schemes dominating the industry, due to the financial burden DB schemes place on employers. Growing longevity risk, stemming from rising life expectancy has also been a contributing factor. Revenue is expected to fall by 5.7% over the five years through 2023-24 to £113.6 billion, including estimated growth of 5% in 2023-24, while the average industry profit margin is anticipated to be 29.4%.
Industry revenue has declined at a CAGR of 5.7 % over the past five years, to reach an estimated £133.6bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue (£m)
2024 |
---|---|---|
The Universities Superannuation Scheme | 4,393.6 | |
BT Pension Scheme | 2,271.4 | |
Electricity Supply Pension Scheme | 2,203.1 |
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Industry revenue is measured across several distinct product and services lines, including Defined benefit schemes and Defined contribution schemes. Defined benefit schemes is the largest segment of the Pension Funding in the UK.
Defined contribution schemes' low costs prove enticing for employers
The Pension Funding industry provides retirement benefits for people no longer earning an income. The industry includes both occupational and personal pension schemes. State pensions are excluded from this industry.
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SIC 65.30 - Pension Funding in the UK
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Including values and annual change:
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Key data sources in the UK include:
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These sources include:
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The market size of the Pension Funding in the UK industry in United Kingdom is £133.6bn in 2024.
There are 57,771 businesses in the Pension Funding in the UK industry in United Kingdom, which has grown at a CAGR of 0.9 % between 2019 and 2024.
The market size of the Pension Funding in the UK industry in United Kingdom has been declining at a CAGR of 5.7 % between 2019 and 2024.
Over the next five years, the Pension Funding in the UK industry in United Kingdom is expected to grow.
The biggest companies operating in the Pension Funding market in United Kingdom are The Universities Superannuation Scheme, BT Pension Scheme and Electricity Supply Pension Scheme
Defined benefit schemes and Defined contribution schemes are part of the Pension Funding in the UK industry.
The company holding the most market share in United Kingdom is The Universities Superannuation Scheme.
The level of competition is high and increasing in the Pension Funding in the UK industry in United Kingdom.