Characteristics of People and Households Without a Private Pension

12 Sep 2014 04:23 PM

Key points

• For those below retirement age, 45% of men and 49% of women in Great Britain did not have any private pension savings in 2010-2012.
• 95% of men and women working in Accommodation and food service industries did not pay into a private pension in the UK in 2012. In ‘Public administration, defence and social security’ only 7% of men and 9% of women did not pay into a private pension.
• A third of employees, nearly half of the self-employed and around 80% of men and women ‘not in work’ did not have any private pension savings in Great Britain in 2010-2012.
• 76% of women in routine occupations did not have a private pension in Great Britain in 2010-2012 compared to 15% of women in higher managerial and professional occupations, a difference of 61 percentage points.
• The median of the sum of property, physical and financial wealth was £160,000 for households with a private pension in Great Britain. This is nearly seven times larger than for households without a private pension at £23,900