The industry has endured a turbulent and transformative five years. The global financial crisis and ongoing European debt crisis have battered financial markets for much of the period, hammering assets returns. At the same time, deteriorating economic conditions and increasing investor uncertainty have weighed on voluntary contributions. Against this volatile backdrop, the government has finally introduced long awaited pension reform. This is expected to transform the industry during the next five years, beginning with the introduction of automatic enrolment in October 2012. Read the full report on IBIS