WIREDGOV

Thousands of people in jobs where it is not traditional to save in a pension are building up retirement savings for the first time.

Thousands of people in jobs where it is not traditional to save in a pension including sales assistants, technicians and dinner ladies are building up retirement savings for the first time, according to new data from the ONS.

The pension tables within the Annual Survey of Hours and Earnings show there are nearly 1 million additional savers in Defined Contribution workplace pension schemes since 2011. There are rises across all occupational groups, with some of the biggest increases in sectors with low numbers of staff in schemes.

Sectors with the biggest rises were sales and customer service – up 8%, an increase of 160,000 cashiers, sales assistants, supervisors and related roles who now have pensions, and elementary occupations which rose 5% – an increase of 130,000 security guards, cleaners and dinner ladies among those now in a workplace scheme.

Pensions Minister Steve Webb said:

The tide is turning for pension saving in Britain after decades of decline. Automatic enrolment is putting pension saving within reach of all workers, whatever job they have, including many on low to middle incomes.

For the first time, thousands of hardworking people with jobs or businesses that have not traditionally provided pensions can start saving with a contribution from their employer, helping them towards a more prosperous future and restoring fairness in retirement.

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