This report looks at the changes affecting the working population of the UK in terms of their need to provide for retirement. With media reports continually highlighting the need for pension provision and the government admitting that UK consumers are not saving enough for retirement, the issue is of major concern to many. The growing movement of occupational pension schemes from Defined Benefit (DB or Final Salary) to Defined Contribution (DC or Money Purchase), combined with demographic developments, are leading more consumers to consider using additional and alternative ways of funding their retirement than in the past. Every week that passes seems to bring yet another company announcing the closure of its DB scheme, leading to a gradual erosion of such pension provision, to the extent that one day the only workers left in such schemes may be those who work for the government.

There have always been significant numbers of those who do not work for companies with an occupational scheme - such as the self-employed and owner-managers of small businesses. For them, the choice is not as simple as whether or not to invest in a personal pension, or of how much to invest. Many see their businesses as their pension pot, whether it is to be sold on to another owner to enable the founder to retire, or to be listed on the AIM or other stock market, providing the founder with a lump sum and the potential for future income. Partnerships, whether set up by lawyers, accountants or those who don't want a limited company, have a similar purpose - the cheque the partner receives when they leave.

The report identifies and comments on the factors that have contributed to the need for consumers to begin to look at alternative ways of providing for their retirement, such as the ageing population, low annuity rates and the continuing poor performance of the stock market in recent years and months. Since the death of Robert Maxwell, consumers have continued to read in their daily newspapers about one pension scandal after another - from mis-selling of personal pensions and more recently of FSAVCs, to the Equitable Life affair. All this has led to an underlying lack of trust of putting all your eggs in one basket - so some are beginning to look elsewhere for a safe place to grow or keep their nest egg for retirement.

Mintel examines some of the options available to consumers to provide for their future retirement. These possibilities include:

· shares

· buy-to-let housing and second homes

· art

· savings vehicles such as ISAs and National Savings products

· stakeholder pensions held alone or concurrently with occupational scheme membership

· postponing retirement by continuing to work longer

· easing into retirement by developing a second career, often part-time

· building up a business that can be sold or floated to provide for retirement.

In May 2002, Mintel commissioned special research for this report that was undertaken by NOP. The sample of some 2,089 adults were questioned about their views on this subject. Respondents were asked about which products they currently owned or were considering that might potentially be used to fund their retirement (such as ISAs, unit trusts and investment bonds), as well as about their attitudes towards providing for retirement in general, using traditional and alternative investment vehicles to do so.

Other Mintel reports of relevance to this subject include:

- The Grey Market, Finance Intelligence - UK Report, June 2002

- Investment Bonds and Safe Haven Alternatives, Finance Intelligence - UK Report, May 2002

- Mortgages, Finance Intelligence - UK Report, March 2002

- Personal Pensions, Finance Intelligence - UK Report, March 2002

- Annuities, Finance Intelligence - UK Report, February 2002

- The Buy-to-Let Property Market, Finance Intelligence - UK Report, January 2002

- Stakeholder Pensions, Finance Intelligence - UK Report, December 2001

- Private Banking and Wealth Management, Finance Intelligence - UK Report, November 2001.