(Bloomberg) -- Insurance-industry organizations LIMRA and LOMA are starting a unit to study retirement trends as more people get set to leave the workforce.

The LIMRA-LOMA Secure Retirement Institute will conduct studies on savings by individuals and products and services offered by financial firms, says Bob Kerzner, the chief executive officer of the two groups.

“We’re looking a lot deeper at some of the institutional parts of the business,” Kerzner says. “We think you’re going to need a lot of research to understand this ever-changing world, and that we’re in a unique position to provide that.”

LIMRA already gathers data on annuities and life insurance sales, and LOMA provides training for financial-services workers. The organization has added staff to conduct the research, says Mark Morris, a LIMRA spokesman. He declines to give specific figures.

Kerzner is set to announce the initiative at LIMRA’s annual conference this week in New York. LIMRA estimates that the U.S. population 55 and older will have about $22 trillion in investible assets by 2020, up from $12 trillion in 2010.

SRI’s research agenda includes studies on institutional retirement plans, pension risk-transfers and annuity features. The organization will also examine retirement planning among younger people.

JPMorgan Chase & Co., Wells Fargo & Co. and BlackRock Inc. have representatives on the board, which will help decide what to research, Morris says.

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