The Government Actuary Department (GAD) has found from recent research that the number of people in occupational pension schemes continues to fall.
It found that the majority of members were in large schemes. The overall number of employees accruing benefits in the private sector was 5.7 million. The average contribution rates, with employee and employer contributions combined were 16.1% of pensionable earnings for defined benefit schemes and 8.5% for defined contribution schemes.
The survey also revealed that the average assets per member was around £45,000.
To learn more about pensions visit the Pensions Adviser.com.