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Occupational schemes see slow but steady decline in active membership

Thursday, September 20, 2012

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The total membership figure of occupational schemes in the UK is estimated to be 27.2 million, the same as in 2010, according to figures from the Office for National Statistics (ONS). 

Out of this, 13 million were in public sector schemes and 14.2 million were in private sector schemes.

 The annual Occupational Pension Schemes Survey (OPSS) also revealed only an estimated 8.2 million were active members: 5.3 million in public sector schemes and 2.9 million in private sector schemes.

This is over 100.000 less than last year and the lowest level in nearly 60 years when a peak of 12.2 million active members was reported in 1967. Over the past 30 years the figure has seen to be in decline. Figures for this year are harder to predict as the effects of auto-enrolment are yet to be measured.

In 2011, for defined benefit schemes in the private sector, the average contribution rate was 4.9% for members and 14.2% for employers For defined contribution schemes in the private sector, the average contribution rate was 2.8% for members and 6.6% for employers

The OPSS is an annual survey of occupational pension schemes, and is run by the ONS. The survey was first run in 1953 and became an annual survey in 2004.

OPSS collects information from occupational pension schemes about scheme membership, benefits and contributions; it includes sections on very small schemes (schemes with two to 11 members) and those that are winding up. Results from OPSS generally provide a detailed view of the nature of occupational pension provision in the UK.

If you like to see the full study then please click here.

 

First published 20.09.2012

azeevalkink@wilmington.co.uk