Workplace membership surges to 59% - ONS

The number of members in workplace pension schemes increased to 59 per cent in 2014, according to the Office for National Statistics.

Membership increased by 9 per cent in 2014, up from from 50 per cent in 2013. The ONS attributed the rise to an increase in membership of occupational DC schemes and group personal and group stakeholder schemes – a factor likely to be triggered by auto-enrolment.

Occupational defined benefit schemes represented less than half (49 per cent) of total workplace pension membership last year for the first time since 1997, figures also showed.

The ONS said pension membership increased in all age groups in 2014 compared with 2013, with the largest increase in the age group 22-29.

In the private sector, 33 per cent of employees with workplace pensions made contributions of greater than zero, but under 2 per cent compared with 11 per cent of employees in 2013 – another increase likely to be driven by auto-enrolment.

The proportion of employees in the private sector receiving employer contributions of greater than zero and under 4 per cent was 43 per cent in 2014, which compares to 22 per cent in 2013.

ONS said the increase may be explained by new members who have been automatically enrolled into a workplace pension with lower initial employer contributions until the phasing of contributions is completed in 2018.

    Share Story:

Recent Stories


Private markets – a growing presence within UK DC
Laura Blows discusses the role of private market investment within DC schemes with Aviva Director of Investments, Maiyuresh Rajah

The DB pension landscape 
Pensions Age speaks to BlackRock managing director and head of its DB relationship management team, Andrew Reid, about the DB pensions landscape 

Podcast: From pension pot to flexible income for life
Podcast: Who matters most in pensions?
In the latest Pensions Age podcast, Francesca Fabrizi speaks to Capita Pension Solutions global practice leader & chief revenue officer, Stuart Heatley, about who matters most in pensions and how to best meet their needs

Advertisement Advertisement Advertisement