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Workplace Pensions
Active members by type of scheme (2006) Around 13 million people are saving in workplace pension schemes.
Source: Private sector derived figures from the ONS’s Annual Survey of Hours and Earnings (data for April 2006); public sector figure based on Government Actuary’s Department estimate in Occupational Pension Schemes 2004 (p41). The Annual Survey of Hours and Earnings shows a higher level of private sector pension scheme membership than some other sources (e.g., the p28 of the Employers’ Pension Provision Survey 2005, published by the DWP). The number of active members in private sector DB schemes will have fallen since April 2006.
Employees and workplace pension scheme membership
Source: Annual Survey of Hours and Earnings (ONS); data is for April 2006
Private pension coverage 2002/03 to 2005/06 (working age employees)
Source: Successive editions of the DWP’s Family Resources Survey. The figures show the proportion of employees saving in an occupational or personal pension each year. Some of those not saving will have pension savings from earlier years.
Open and closed DB private sector DB schemes One third of private sector defined benefit schemes surveyed by NAPF were still open to new members in 2006. More than half of the active members in private sector defined benefit schemes belonged to open schemes.
Source:NAPF Annual Survey 2006. The Purple Book published by the Pensions Regulator and the Pension Protection Fund suggests that 31% of schemes were open to new members at the time they completed their scheme returns (p18). See p23 of the Purple Book for a timeline of scheme closure.
Profile of members in private sector DB schemes
Source: The Purple Book, Pensions Regulator/PPF, p19
Average contribution rates to private sector occupational schemes
Source: Occupational Pension Schemes 2005 (Government Actuary’s Department), p94
Private sector occupational schemes by size
Source: Occupational Pension Schemes 2005 (Government Actuary’s Department), pages 21 and 27.
Pensioners’ Income from Occupational Pensions
Source: Pensioners’ Income Series 2005/06 (DWP), table 3.7 |
