UK 'at retirement' market to double by 2013

Products termed 'at retirement' are those designed to convert invested assets into income, such as conventional annuities, income drawdown, and variable annuities. Watson Wyatt has projected the industry will grow by nearly 20pc annually over the next five years. Mark Joannes, a senior consultant at Watson Wyatt, explained that the predictions were in light of a study sponsored by nine financial services companies active in the retirement planning and at retirement markets. It says the firm's calculations are based in part on data from the FSA for current market sizing and the ABI fo...