Pension Trends

The most significant fall from Q3 to Q4 2019 has been in the Single Premium/Transfer markets with a decline of over £400m with almost 50% of that from 10 of the Top 30 firms, a number of took the decision too withdraw from Defined Benefit transfers.

It is unlikely that this action will be reversed and volumes in 2020 will be under continuous pressure unless there is a ‘buy now’ stimulus provided in the forthcoming budget.

Panacea community - Pension sales by quarter

Product Q1 19 Q2 19 Q3 19 Q4 19 Grand total
Executive (RP) £82,230.00 £53,071.00 £65,049.00 £31,333.00 £231,683.00
Executive (SP) £195,213.00 £24,477.00 £22,787.00 £92,409.00 £334,886.00
Flexible Drawdown (SP) £35,169,338.00 £35,839,374.00 £33,065,373.00 £26,822,483.00 £130,896,568.00
Flexible Drawdown (T) £45,748,338.00 £50,713,094.00 £54,684,227.00 £52,143,785.00 £203,289,444.00
FSAVC (RP) £71,949.00 £223,962.00 £62,382.00 £85,574.00 £443,867.00
FSAVC (SP) £7,665.00 £7,165.00     £14,830.00
Indiv S/H (RP) £1,510,229.00 £1,571,445.00 £1,628,300.00 £1,194,312.00 £5,904,286.00
Indiv S/H (SP) £1,682,469.00 £1,723,000.00 £541,674.00 £731,190.00 £4,678,333.00
Lifetime Pension Income (T) £32,332,798.00 £29,381,771.00 £26,381,678.00 £22,843,615.00 £110,939,862.00
Pension Trans. (T) £54,759,433.00 £55,433,091.00 £55,385,772.00 £56,845,476.00 £222,423,772.00
Personal (RP) £27,688,748.00 £38,865,404.00 £30,693,368.00 £34,524,299.00 £131,771,819.00
Personal (SP) £98,154,810.00 £96,640,176.00 £90,235,230.00 £78,872,842.00 £363,903,058.00
Section 32 (T) £185,111.00 £130,865.00 £257,647.00 £261,924.00 £835,547.00
SIPP (RP) £23,280,965.00 £21,895,623.00 £14,470,372.00 £23,043,827.00 £82,690,787.00
SIPP (SP) £232,755,073.00 £196,339,873.00 £198,298,341.00 £193,512,689.00 £820,905,976.00
Grand total £584,851,174.00 £558,055,027.00 £536,294,032.00 £526,132,399.00 £2,205,332,632.00

 

Last 4 quarters - total Pension sales

Product Non User Sales Panacea Community Sales Total Market Share %
Executive (RP) £120,818 £231,683 £352,500 65.7
Executive (SP) £174,518 £334,886 £509,404 65.7
Flexible Drawdown (SP) £66,415,920 £130,896,568 £197,312,488 66.3
Flexible Drawdown (T) £100,084,407 £203,289,444 £303,373,851 67.0
FSAVC (RP) £13,582 £443,867 £457,449 97.0
FSAVC (SP) £17,975 £14,830 £32,805 45.2
Indiv S/H (RP) £3,196,686 £5,904,286 £9,100,971 64.9
Indiv S/H (SP) £2,206,846 £4,678,333 £6,885,179 67.9
Lifetime Pension Income (T) £38,540,687 £110,939,862 £149,480,549 74.2
Pension Trans. (T) £116,926,716 £222,423,772 £339,350,488 65.5
Personal (RP) £74,852,818 £131,771,819 £206,624,637 63.8
Personal (SP) £210,133,434 £363,903,058 £574,036,492 63.4
Section 32 (T) £651,984 £835,547 £1,487,531 56.2
SIPP (RP) £41,750,413 £82,690,787 £124,441,200 66.4
SIPP (SP) £370,268,833 £820,905,976 £1,191,174,809 68.9

 

Panacea community - Lifetime Mortgage sales by quarter

Product Q1 19 Q2 19 Q3 19 Q4 19 Grand total
Equity Release £31,226,805.00 £29,212,636.00 £30,501,833.00 £35,126,641.00 £126,067,915.00

 

Total Lifetime Mortgage sales - last 4 quarters

Product Non User Sales Panacea Community Sales Total Market Share %
Equity Release £214,801,969.00 £126,067,915.00 £340,869,884.00 37.0

 

 Please contact sarahpaul@panaceaadviser.com if you are interested in speaking to us further.

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