For those in employment who had no pension cover, they were asked for their main reason for not having any pension coverage. This covered persons who had no occupational pension coverage (from current or previous employments) or personal pension cover. The affordability of pensions and never getting around to organising pension cover, were the two main reasons cited by respondents. Four in ten (40%) respondents stated that they could not afford a pension, unchanged from the same period in 2021. A further 37% stated that they never got around to organising pension cover, while one in ten (10%) would do so at a future date. See Table 6.1.
One in sixteen (6%) said that other sources offered a better return for investment, while the availability of a spouse’s pension was cited by 2% of respondents as the main reason for not having pension cover. See Table 6.1
| Never got around to organising it | Will set one up at a future date | Can't afford a pension | Other sources offer a better return for investment | Don't understand pensions | Spouse pension | Other sources will be adequate including State Pension or savings etc. | Intend to join pension scheme/In process of setting up pension | Moving back home/abroad | Too much financial risk | |
| Male | 39 | 10 | 36 | 7 | 3 | 1 | 1 | 1 | 0 | 1 |
| Female | 34 | 10 | 44 | 5 | 2 | 2 | 1 | 1 | 1 | 0 |
| 20-24 | 41 | 21 | 29 | 6 | 0 | 0 | 0 | 1 | 3 | 0 |
| 25-34 | 48 | 14 | 24 | 7 | 3 | 1 | 0 | 1 | 1 | 0 |
| 35-44 | 33 | 8 | 45 | 5 | 3 | 2 | 1 | 1 | 0 | 1 |
| 45-54 | 26 | 3 | 59 | 5 | 2 | 2 | 3 | 0 | 1 | 1 |
| 55-69 | 28 | 1 | 54 | 6 | 2 | 4 | 4 | 0 | 0 | 2 |
Those in employment aged 20 to 69 years (including self-employed and/or assisting relatives) who have no pension coverage were asked what their expected source of income would be on retirement. The State Pension was cited as the expected source of income on retirement for 57% of those in employment with no pension coverage, an increase of seven percentage points on the same period in 2021. Over one quarter (26%) were undecided, while one in eleven of those with no pension cover (9%) stated that they would rely on savings or investments, while spouse or partner's occupational or personal pension was cited as an expected source of main income on retirement by 3% of workers with no pension coverage. See Table 6.2.
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