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Key Assignments

	Subject matter expert - Wrap cash account/management
	Subject Matter Expert - Wraps incl SIPPs, Collectives, Bonds
	Programme Manager & Subject matter expert - L & P Distribution
	Subject Matter Expert -Wrap cash account/managerment
	Wealth Management incl Wraps for leading assurer

Life Assurance

UK private sector has unrivalled experience in pension funds

As the UK population increasingly focuses on short-term reward and lifestyle trends, players in the long-term-savings market struggle to persuade consumers to put money aside for the future, or in case of an unforeseen emergency.

Despite this, people continue to spend an increasing amount of their income on houses, durable white goods and leisure activities. In contrast, they were spending less on savings (there is a huge savings gap), and the performance of the life assurance and pension markets remained lacklustre.

This has resulted in notable changes to the structure of the long-term-savings market, with many of the largest companies - and, indeed, the smaller players - merging and cutting costs.

The trigger for this activity has not been the entry to the market of foreign competition, or the entry of new players such as Virgin Money Personal Financial Service Ltd or Marks and Spencer PLC, but the UK Government. High on its agenda is the issue of helping low-income consumers to get out of the poverty trap.

The UK Government is seeking to motivate the low-paid to save, particularly through the stakeholder pension. Like the low-cost savings products (CAT (low Charges, easy Access and fair Terms) standardised) introduced in 1999, the stakeholder pension is widely available, and benefits from fixed charges.

With a rapidly ageing population the world faces a pensions crisis and many countries are passing the burden for pensions provision from the state sector to the private sector. The UK has unrivalled experience in private pension funds. A far higher proportion of pension payments are provided by the private sector in the UK than in nearly any other country.

At TKP, we have over 180 seasoned professionals who have chosen to specialise in the Financial Services Sector. Financial Services is not like any other industry, which is why our professionals work specifically in this industry. The industry is highly regulated, subject to intense media coverage, competitive margins, difficult legacy issues and fluctuating risk profiles and yet to survive it needs to stand out from the crowd.

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Company List Abbey Life Australian Mutual Provident Group AXA Sun Life City of Westminister Assurance Company Clerical Medical Investment Group Criterion Assurance Group Fidelity Pensions Management Friends Provident Imagination Life Intrinsic Financial Services Major Assurance Company Major Life and Pension Services Company Major Life and Pensions Provider Major UK Life and Pensions Organisation Met Life Old Mutual Partnership Assurance Pearl Assurance Personal Investment Authority Prudential Royal Liver Assurance Royal London Mutual Royal Sun Alliance Schroder Pensions Scottish Equitable Scottish Provident Scottish Widows Skandia Life Standard Life Standard Life Healthcare Sun Alliance Sun Life Assurance UK Life and Pensions United Assurance Wesleyan Financial Services www.whatannuity.co.uk

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