The financial services sector will grow by 8% a year until 2012, according to market researcher Dexx&R. It predicts the market will be worth about $1,247 billion by then.

The survey shows the greatest growth will come from post-retirement products, including lifetime and term, immediate annuities and allocated pensions. The growth of this sector alone will be about 14% a year.

Superannuation assets are also expected to take off, with their 9.24% annual growth primarily driven by master trusts, self managed funds and personal super.  While retail superannuation will have increased its slice of the pie from the current 31% to 43% in 2012, group super will decrease from making up 32% of the Australian market to only 24% in 2012.