Pension savers drop by 500,000 in three years, DWP reveals

The decline in savers was similar for both men and women at about 300,000 between 2010 and 2012, with those aged 35 to 44 accounting for half of the total decrease in membership. Although the DWP observed that participation in workplace saving generally increases with age, the data revealed membership tended to peak between 45 and 49 before tailing off again. In 2012, the number of 22-24 year olds saving into an employer-sponsored pension was the same as for men aged 60-64 at 300,000. The DWP figures, sourced from the Annual Survey of Hours and Earnings from the Office for National...