Two-thirds missing out on work pension

By The Newsroom
Published 27th Feb 2011, 17:41 BST
Updated 1st Mar 2011, 21:31 BST
Just one in three private sector employees is enrolled in a workplace pension, according to new figures showing a dramatic decline in the number in final salary schemes outside the public sector.

The Annual Survey of Hours and Earnings found that nearly 66 per cent of workers are not saving in an occupational scheme, despite tax benefits and employer contributions.

The data underlined the decline in final salary pensions, with just 11 per cent of private sector workers in such schemes in 2010, compared with 34 per cent in 1997. In contrast, almost four in ten public sector workers are still members of final salary schemes.