The Office for National Statistics reported 2018 provisional and 2017 Employee workplace pensions in the UK. “Over three-quarters (76%) of UK employees were members of a workplace pension scheme in 2018, up from 73% in 2017.”

The ONS reported “the number of employees with defined contribution (pension wealth dependent upon factors such as investment performance) workplace pensions has increased considerably in recent years; in 2018 the proportion of employees with workplace pensions of this type (34%) almost equalled that of defined benefit (which guarantee a specific retirement income, 36%).”

“The vast majority (85%) of defined benefit pension members received employer contributions equivalent to 12% or more of their earnings in 2018, while just 8% of defined contribution members received employer contributions of this size: this reflects the legal requirement on employers to ensure defined benefit schemes are funded sufficiently to pay future pensions.”

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