Membership of occupational pension scheme membership has risen to a record high of 45.6 million people as of the end of last year, according to the Office for National Statistics (ONS).
In its Occupational Pension Schemes Survey - published today (20 June) - also revealed active membership has risen to 17.3 million people, another record high for the data series. Average contributions to open private sector defined contribution (DC) schemes also increased from 3.4% in 2017 to 5.0% at the end of 2018, largely due to the increase in minimum auto-enrolment (AE) contributions. This comprised of 2.7% from members, and 2.3% from employers. It is the sixth consecutive year that occupational scheme membership has risen, matching the same period as during which AE was rolled ...
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