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Release: Occupational Pension Schemes Survey Short Stories, Contracting out of private sector defined benefit pension schemes, 2012

Released: 04 March 2014

Contact

Grace Edgar

Public Policy Analysis

pensionsanalysis@ons.gsi.gov.uk

Telephone: + 44 (0) 1633 455593

Categories: Economy, Personal Finances, Pensions, Occupational and personal pensions

Frequency of release: Ad-hoc

Language: English

Geographical coverage: UK

Geographical breakdown: UK

Survey name(s): Occupational Pension Scheme Survey (OPSS)

  • The percentage of private sector active membership contracted out of defined benefit occupational pension schemes fell from 91% in 2008 to 84% in 2012.

     

  • Contribution rates are much higher for contracted out schemes than for non-contracted out schemes.

     

  • Contracting out for defined contribution schemes ceased from April 2012. Should the Pensions Bill 2013/14 be enacted, contracting out of defined benefit occupational schemes will also end, in 2016.

     

OPSS provides a detailed view of the nature of occupational pension provision in the UK.

These National Statistics are produced to high professional standards and released according to the arrangements approved by the UK Statistics Authority.

Content from the Office for National Statistics.
© Crown Copyright applies unless otherwise stated.