Pension Coverage 2024

Pension Coverage 2024

Of workers aged 20 to 69:

67% have pension coverage of some form (outside of State Pension)

By age group

• 75% aged 55-69
• 59% aged 25-34
• 27% aged 20-24

By pension type

• 69% occupational pension only
• 21% both
• 11% personal pension only

Employees who are part of their employer's pension scheme:

• 69% defined contribution
• 26% defined benefit
• 4% hybrid pension

Auto Enrolment (AE)

Of employees aged between 23 and 60 with no occupational pension:

• 78% where their employer does not offer one, would stay in AE scheme

Main reason for not having a pension:

• 43% never got around to organise it/will do at future date

Of workers who don't have a pension:

• 52% expect to rely on the State Pension