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Company pension payments fall
The number of people paying into employer pension schemes fell in 2007, figures from the Office for National Statistics have shown.
The figures revealed that 8.8m people paid into such schemes, down from 9.2m the year before.
There were 54,000 company pension schemes in all, with 80% of members in schemes with 10,000 people or more. Just 1% of active members were in small schemes with between two and 11 members.
Those regularly paying into final salary schemes also fell to 2.7m, compared to 3m in 2006.
Only 57% of final salary schemes now remain open to new members, as companies continue to struggle with the cost of such plans.
Post Date: September 24th, 2008