NewswireToday - /newswire/ -
Noida, Uttar Pradesh, India, 2011/06/29 - Development of new hybrid LTC products will drive the retirement plan assets in the US to grow at nearly 9% CAGR during 2011-2014, RNCOS acknowledged.
According to our research report “US Retirement Income Market Analysis”, the US retirement market has been recording significant growth rates for the past few years. This is due to the fact that, Americans are increasingly becoming conscious about their income sources in their old-age. Further, factors, such as rising life expectancy, increase in old age population, and declining mortality rate are resulting into high demand for pension plans in the United States.
Our report identifies that; the country is witnessing new developments in retirement solution sector; indicating a bigger market for automatic enrollment of defined contribution plans (DC). Due to the increasing importance of DC on the future retirement income of employees, many corporate plan sponsors have leveraged automation to both default employees into the employer plan and increase their savings rates.
Moreover, leading reputable life insurance carriers will pay more attention to the concerns of people regarding LTC insurance in near future, and will develop new hybrid LTC products, which will be considered as a better solution for seniors and their caregivers. These sorts of solutions will help retirement plan assets to post a CAGR of around 9% during 2011-2014 to reach US$ 24.3 Trillion by 2014 end.
Besides all these developments, banks and asset management companies should share the responsibility of penetrating into different geographical regions. Moreover, they require creating awareness among the masses about their retirement products and their benefits in the coming years.
“US Retirement Income Market Analysis” provides a detail analysis along with the current and future outlook of the US retirement solution market and explores the market development and potential. It offers a detail study of the forces driving the industry and discusses key market trends prevailing in the industry, thus making the US a potential retirement solution market. Forecasts and estimations present in this report are not based on a complex economic model, but are intended as a rough guide to the direction, in which, the industry is likely to move in future.
RNCOS (rncos.com) specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals study and analyze the industry and its various components, with a comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.