A fifth of intermediaries in the group pensions market believe they will have fewer customers and earn less because of the RDR, according to a study from ORC International.
Intermediaries on lower earnings of £40,000 to £99,000 per year from group pensions business feel they are most exposed to the effects of the RDR. Around a third of these advisers say they will earn less post-2012.
Employee benefit consultants in the corporate pensions market expect to adapt better to the RDR changes, with only 11% anticipating business streams slowing in future.
"Our research over the past two years clearly shows intermediaries developing a more considered view of RDR and the way in which it will affect them," says Pete Johnson, research director of the financial services division at ORC International.
"In both the individual and group markets, smaller distributors are increasingly concerned about contracting income streams.
"Within the group market, we would expect the EBC segment to increase in prominence as smaller IFAs exit the market and providers continue to direct their focus towards nil-commission business."
NEST is also seen as a threat by 18% of intermediaries placing group pensions business although 36% see the scheme as an opportunity.
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