Fall in proportion of UK workers covered by occupational pensions
Issued : 22 February 2013
The proportion of employees in the UK covered by an occupational pension scheme has dropped to 46%, its lowest level in at least 15 years, according to official figures released by the Office for National Statistics (ONS).
In its 2012 Annual Survey of Hours and Earnings, the ONS said the drop was mainly driven by the fall in membership of defined benefit occupational pension schemes - from 46% to 28% during the period. Nevertheless defined benefit schemes still comprise the largest single category of workplace pensions, with 60% of employees with a workplace pension having this type of pension.
Membership in defined contribution workplace schemes also fell from 9% to 7%, while membership of group personal and group stakeholder pensions rose from 1% in 1997 to 10% in 2012.