Civil service and education top industries for employer pension contributions

The civil service has the highest proportion of employers that are contributing 20 per cent or more to employees’ pensions (67.9 per cent), although this includes compulsory social security, Investing Review’s analysis of Office for National Statistics data has found.

The investing comparison site noted that education came a fairly close second, with 64 per cent of employers contributing 20 per cent or more in this sector.

However, following the two top spots, the gap widens significantly, with electricity, gas, steam and air conditioning supply employers coming third with 19.4 per cent.

This was followed by human health and social work employers, with 15.4 per cent contributing 20 per cent or more to their workers’ pensions, and water supply employers (10.6 per cent).

Professional, scientific and technical activities employers made the top 10 in 10th position, with 4 per cent of employers in this sector contributing 20 per cent or more.

Working in wholesale and retail trade, including car and motorcycle repair, resulted in the lowest percentage of employer contributions of 20 per cent or more, at 1.3 per cent.

An Investing Reviews spokesperson commented: “With the cost-of-living crisis playing on the minds of many, working in a sector that offers good pension contributions can bring ease of mind when thinking about future finances.

“This study serves as an insightful guide as to the sectors where employer contributions are higher than others.”

    Share Story:

Recent Stories

Sustainable investing for DC schemes
Laura Blows discusses sustainable investing for defined contribution plans with BlackRock head of UK & MEA global consultant relations, Claire Felgate, in Pensions Age’s latest video interview

Spotlight on Emerging Markets
Francesca Fabrizi talks emerging markets with Polar Capital’s head of Emerging Markets & Asia, Jorry Nøddekær, exploring the opportunities for pension funds in the current global setting

Sustainable Investing
Laura Blows speaks to Royal London Asset Management sustainable fund manager, George Crowdy, about global sustainable equity investing
The latest in multi-asset credit
Laura Blows discusses the high-yield market and multi asset credit with Royal London Asset Management senior fund manager, Khuram Sharih