Pensions Analysis Unit
Telephone: +44 (0) 1633 455633
Frequency of release: Ad-hoc
Geographical coverage: UK
Geographical breakdown: UK
The total number of individuals making contributions to personal pensions (group and individual) in 2010/11 was estimated by HMRC to be 5.7 million. There were fewer people contributing than in previous years but the average contribution per person was higher (£3,260 in 2010/11). Employer contributions have seen increases in most years, reaching a UK total of £9.1 billion in 2011/12 compared with £0.5 billion in 1990/91. Individuals’ contributions rose from £1.5 billion in 1990/91 to £10.2 billion in 2007/08, but then fell during the recession to £7.7 billion in 2010/11. By 2011/12 they had recovered to reach £8.8 billion.
The workplace pension reforms introduced in the Pensions Act 2008 started to be implemented with effect from October 2012 and are being phased in over the period to 2018. These reforms include the introduction of minimum contribution rates. The analysis published in this release relates to data collected prior to October 2012, before the reforms took effect.
These National Statistics are produced to high professional standards and released according to the arrangements approved by the UK Statistics Authority.