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Occupational Pensions

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The proportion of workers with an occupational pension from their current employment who identified their pension as a Defined Contribution pension was 61.7% and 36.4% of workers had a Defined Benefit occupational pension from their current job, while 1.9% had a Hybrid pension. Rates of Defined Benefit occupational pension cover is highest for the older age groups, with 53.3% of females and 51.8% of males in the 55 to 69 years age group having a Defined Benefit occupational pension in their current employment. See Table 4.1.

Self-employed persons, who did not have an occupational pension, were asked if they had an occupational pension from a previous employment. Over two thirds (67.2%) confirmed they had a Defined Contribution pension, while 28.4% had a Defined Benefit occupational pension and 4.4% were part of a Hybrid pension scheme from a previous employment. See Table 4.1

Note that Hybrid pensions were included for the first time as an occupational pension type in the Quarter 3 2019 Pensions Survey. A Hybrid pension scheme is one which is neither a full defined benefit scheme nor a full defined contribution scheme, but has some of the characteristics of each.

Show Table: Table 4.1 Persons with occupational pension coverage classified by pension type, Q3 2019

Defined BenefitDefined ContributionHybrid
Employees with an occupational pension from their current employment36.461.71.9
Employees with occupational pension, only from a previous employment20.7772.3
Self employed persons with occupational pension from a previous employment28.467.24.4
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Over half of employees (53.2%) without an occupational pension said that their employer did not offer a pension scheme, while one quarter (25.1%) had chosen not to join their employer's pension scheme. A further 14.6% of employees without an occupational pension were not eligible to join their employer’s occupational pension scheme. See Table 4.2.

Show Table: Table 4.2 Employees aged 20 to 69 years who do not have an occupational pension classified by reasons for not having an occupational pension, Q3 2019

X-axis labelMaleFemale
My employer does not offer a company pension scheme49.656.6
I have chosen not to join my employer's pension scheme28.122.2
I am not eligible to join my employer's pension scheme15.913.3
Not stated6.47.9

Nearly six out of every ten (58.2%) of part-time workers reported that their employer did not offer a pension scheme, compared with just over half (50.8%) of full-time workers. The most common sectors where the employer did not offer a pension scheme for employees were the Skilled trades (60.9%) and the Caring, leisure and other services (55.9%) occupational groups. See Tables 4.2 and 4.3.

Show Table: Table 4.3 Employees' reasons for not having an occupational pension by NACE economic sector and broad occupational group Q3 2019

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