Occupational Pensions

(asked on 14th December 2017) - View Source

Question to the Department for Work and Pensions:

To ask the Secretary of State for Work and Pensions, what estimate he has made of the average monthly total amount per person, comprising employee employer and tax relief contributions, paid into pensions under the compulsory workplace pension scheme in 2017.


Answered by
Guy Opperman Portrait
Guy Opperman
Parliamentary Under-Secretary (Department for Transport)
This question was answered on 19th December 2017

The Department does not centrally collate the data requested. However, the Department does publish annual workplace pension statistics for eligible employees, which includes data on annual amounts saved.

The latest data available showed the average annual amount saved per eligible saver (those eligible employees saving into a workplace pension) in the private sector, in 2016, was £4,098.

Our Automatic Enrolment Review 2017: Maintaining the Momentum was published on Monday 18 December, setting a clear direction to build a more robust and inclusive savings culture and specifically in supporting younger generations with the opportunity to save for a more secure retirement. Since 2012, over 9 million people have been automatically enrolled into a workplace pension, although workers are free to opt-out within one month of being put into a workplace pension, and can cease saving at any time. By 2019/20 an estimated extra £20 billion a year will be saved into workplace pensions as a result of automatic enrolment.

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