20
Employees enrolled in pension in 2021
2,000,000
Employers now offering AE pension
20,000,000,000
Extra saved into workplace pensions 2020, compared to 2012
Adequacy of savings
5 to 1
ratio of funds saved into DB pensions compared to DC pensions
25.6
average % of earnings paid into DB scheme – of which employer pays average of 19.2%
8
minimum contribution level for AE DC schemes
Basic £10,900/£16,700
Moderate £20,800/£30,600
Comfortable £33,600/£49,700
PLSA retirement living standards: annual income single person/couple
17,000
additional savers brought into AE by ‘freezing’ £10,000 earnings trigger.
70% of these savers were women
Charges
AE equity and inclusion
PPI (2020)
71
pensions tax relief going to men
69
pension contributions made by men
Participation rates
PPI (2020)
Source: DWP (2022): Call for evidence
Total pension participation across workforce - including all non-eligible workers
ONS (2022): Employee workplace pensions in the UK: 2021 provisional and 2020 final results
OPT-out rates
PPI (2020)
1 in 10
of eligible workers opt out.
Even among less financially-secure participation rates still over 90%
Even among less financially-secure participation rates still over 90%
Small pots
Calculations updated for the Small Pots Cross Industry Co-Ordination Group, 2022, based on PPI estimates
22
number of small pension pots predicted by start of 2030