Cerulli Associates Report

Italy and UK Pension Markets to Undergo a Dramatic Shake-Up in 2015

Date:

Italy and UK Pension Markets to Undergo a Dramatic Shake-Up in 2015

Author: Alicia Jimenez

  1. The 'new 703' in Italy places risk assessment and management at the core of asset allocation impacting 40% of the total Italian pensions industry (US$57.9 billion)
  2. It will allow exposure to asset classes that have hitherto remained 'out of bounds', including hedge funds, emerging markets, and commodities
  3. From April 2015, retirees in the United Kingdom will no longer be forced to buy an annuity with their pension funds
  4. Cerulli anticipates greater demand for multi-asset funds, target-date funds, and an increase in the use of drawdown