Market Overview:
The global pension insurance market is expected to grow from USD 1,711.5 billion in 2018 to USD 3,817.9 billion by 2030, at a CAGR of 10.8% during the forecast period. The growth of the market can be attributed to the increasing life expectancy and growing awareness about pension plans among individuals across the globe. In addition, rising income levels and growing demand for retirement planning are also contributing to the growth of this market. However, lack of awareness about pension plans among individuals in developing countries is restraining the growth of this market to some extent. Based on type, the global pension insurance market can be segmented into personal/private pensions and company/workplace pensions. The personal/private pensions segment is expected to account for a larger share of the global pension insurance market than company/workplace pensions duringthe forecast period owingto its advantages such as tax benefits and portability across countries .
Product Definition:
Pension insurance is a government-provided social insurance program that provides retirement income to workers. The program helps workers save for retirement by providing a tax break on contributions and by matching a portion of those contributions. Pension insurance also guarantees retirees a minimum income in retirement.
Personal/Private Pensions:
Personal/Private pensions are also known as Defined Benefit Plans or DB plans. They are a type of retirement plan that allows employees to contribute a percentage of their salary towards their retirement. The employer usually contributes the rest, and the employee gets an annual benefit based on the amount he has contributed and how long he has worked for his employer.
Company/Workplace Pensions:
Pension insurance is a type of insurance that protects employees against the loss of their employer's retirement savings. It works by making payments to an employee's personal retirement account on their behalf if the employee is unable to save enough money from his or her salary to cover expenses in case of disability, unemployment, or death.
Application Insights:
The organizations segment dominated the global market in 2017, accounting for over 60% of the overall revenue share. The growth can be attributed to increasing awareness about providing benefits to employees in case of permanent disability or death due to old age, illness or accident. Rising labor costs and need for cost-effective solutions are also driving the demand from organizations segment.
The individuals & families segment is expected register a significant CAGR during the forecast period owing to increasing longevity and birth rate across various regions such as Asia Pacific and Middle East & Africa which will increase life insurance policies issued against member's pensions savings accounts. Furthermore, favorable government regulations promoting investments coupled with growing awareness regarding investment opportunities will drive industry growth further over the coming years.
Regional Analysis:
Europe dominated the global market in terms of revenue share in 2017. The growth is attributed to the presence of a large number of companies offering products, such as occupational and personal pensions. In addition, favorable government regulations are expected to propel regional growth over the forecast period. Asia Pacific is expected to witness significant growth over the forecast period owing to increasing awareness about pension plans among employers and employees coupled with rising disposable income levels in emerging countries such as China and India.
Growth Factors:
- Increasing life expectancy and the resulting growth in the number of retirees
- Rising awareness about the importance of pension planning and saving among individuals
- Shift from defined benefit to defined contribution pension plans among employers
- Implementation of new regulations and tax incentives encouraging retirement savings
- Growth in private sector pensions as more people move away from traditional government-run schemes
Scope Of The Report
Report Attributes
Report Details
Report Title
Pension Insurance Market Research Report
By Type
Personal/Private Pensions, Company/Workplace Pensions
By Application
Individuals & Families, Organizations
By Companies
UnitedHealthcare, Allianz, Kaiser Permanente, MetLife, CNP Assurances, PICC, Dai-ichi Life Group, ICICI Prulife, Ping An, China Life, CPIC, PBGC
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
191
Number of Tables & Figures
134
Customization Available
Yes, the report can be customized as per your need.
Global Pension Insurance Market Report Segments:
The global Pension Insurance market is segmented on the basis of:
Types
Personal/Private Pensions, Company/Workplace Pensions
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Individuals & Families, Organizations
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- UnitedHealthcare
- Allianz
- Kaiser Permanente
- MetLife
- CNP Assurances
- PICC
- Dai-ichi Life Group
- ICICI Prulife
- Ping An
- China Life
- CPIC
- PBGC
Highlights of The Pension Insurance Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Personal/Private Pensions
- Company/Workplace Pensions
- By Application:
- Individuals & Families
- Organizations
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Pension Insurance Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Pension insurance is a type of insurance that helps protect people who have retired from losing all or part of their income. The policy pays out a set amount each month, regardless of whether the person receives any benefits from the government or private pension schemes.
Some of the major players in the pension insurance market are UnitedHealthcare, Allianz, Kaiser Permanente, MetLife, CNP Assurances, PICC, Dai-ichi Life Group, ICICI Prulife, Ping An, China Life, CPIC, PBGC.
The pension insurance market is expected to grow at a compound annual growth rate of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Pension Insurance Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Pension Insurance Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Pension Insurance Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Pension Insurance Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Pension Insurance Market Size & Forecast, 2018-2028
4.5.1 Pension Insurance Market Size and Y-o-Y Growth
4.5.2 Pension Insurance Market Absolute $ Opportunity
Chapter 5 Global Pension Insurance Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Pension Insurance Market Size Forecast by Type
5.2.1 Personal/Private Pensions
5.2.2 Company/Workplace Pensions
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Pension Insurance Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Pension Insurance Market Size Forecast by Applications
6.2.1 Individuals & Families
6.2.2 Organizations
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Pension Insurance Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Pension Insurance Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Pension Insurance Analysis and Forecast
9.1 Introduction
9.2 North America Pension Insurance Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Pension Insurance Market Size Forecast by Type
9.6.1 Personal/Private Pensions
9.6.2 Company/Workplace Pensions
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Pension Insurance Market Size Forecast by Applications
9.10.1 Individuals & Families
9.10.2 Organizations
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Pension Insurance Analysis and Forecast
10.1 Introduction
10.2 Europe Pension Insurance Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Pension Insurance Market Size Forecast by Type
10.6.1 Personal/Private Pensions
10.6.2 Company/Workplace Pensions
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Pension Insurance Market Size Forecast by Applications
10.10.1 Individuals & Families
10.10.2 Organizations
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Pension Insurance Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Pension Insurance Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Pension Insurance Market Size Forecast by Type
11.6.1 Personal/Private Pensions
11.6.2 Company/Workplace Pensions
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Pension Insurance Market Size Forecast by Applications
11.10.1 Individuals & Families
11.10.2 Organizations
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Pension Insurance Analysis and Forecast
12.1 Introduction
12.2 Latin America Pension Insurance Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Pension Insurance Market Size Forecast by Type
12.6.1 Personal/Private Pensions
12.6.2 Company/Workplace Pensions
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Pension Insurance Market Size Forecast by Applications
12.10.1 Individuals & Families
12.10.2 Organizations
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Pension Insurance Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Pension Insurance Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Pension Insurance Market Size Forecast by Type
13.6.1 Personal/Private Pensions
13.6.2 Company/Workplace Pensions
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Pension Insurance Market Size Forecast by Applications
13.10.1 Individuals & Families
13.10.2 Organizations
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Pension Insurance Market: Competitive Dashboard
14.2 Global Pension Insurance Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 UnitedHealthcare
14.3.2 Allianz
14.3.3 Kaiser Permanente
14.3.4 MetLife
14.3.5 CNP Assurances
14.3.6 PICC
14.3.7 Dai-ichi Life Group
14.3.8 ICICI Prulife
14.3.9 Ping An
14.3.10 China Life
14.3.11 CPIC
14.3.12 PBGC
