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Release: Pension Trends, Chapter 6: Private Pensions, 2013 edition

Released: 16 July 2013

Contact

David Knight

Pensions Analysis Unit

pensionsanalysis@ons.gsi.gov.uk

Telephone: +44 (0) 1633 455633

Categories: Economy, Personal Finances, Pensions

Frequency of release: Ad-hoc

Language: English

Geographical coverage: UK

Geographical breakdown: UK

  • In 2011, there were 8.2 million active members of occupational pension schemes. This is the lowest level since the 1950s.

  • In 2011, for those who were active members of occupational pension schemes, membership was higher in the public sector (65%) than in the private sector (35%). Most active members of Defined Benefit (DB) pension schemes in 2011 (56%) were in schemes that were closed to new members.

  • The proportion of employees who belong to Defined Benefit (DB) occupational pension schemes has fallen from 46% in 1997 to 28% in 2012.

  • The average contribution rates for Defined Benefit (DB) occupational pension schemes for both employees (4.9%) and employers (14.2%) were higher than those for Defined Contribution (DC) pensions. For DC schemes, employees and employers contributed an average of 2.8% and 6.6% respectively.

Pension Trends provides a statistical backdrop for the debate on pensions. It looks at changes in pension provision over time in the context of social and economic developments and changes in the policy environment.

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.