Pension scheme membership drops

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Employee membership of occupational pension schemes fell by 400,000 in 2007, the Office for National Statistics (ONS) says.

It fell from 9.2 million in 2006 to 8.8 million last year, the ONS reports, but total membership of occupational schemes stayed at around 26.7 million over the same period. Employee membership of final salary pension schemes fell by 300,000 – from three million to 2.7 million - in 2007, while membership of money purchase schemes stayed at around 0.9 million. The results are part of the ONS’s Occupational Pension Schemes Annual Report, published today, which also found that in 2007, as in 2006, there were important differences between the contribution rates to defined benefit and defined c...

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