At retirement market to reach £30bn in five years

The consultancy says the at retirement market, for products which convert invested assets into income, reached £13.6bn in 2007 and will grow by almost 20% a year over the next five years. Mark Joannes, a senior consultant at Watson Wyatt, says: "The rapid growth in this market provides considerable opportunities for product providers and financial advisers alike. "The phenomenal growth we can expect in the at retirement market in the next few years is in part a consequence of the personal pensions sales boom back in the late 1980s and early 1990s.” He says Government encouragement to sav...