Fewer pay into pension schemes
Nikhil Kumar is The Independent's New York correspondent. He was formerly assistant editor on the foreign desk and has also done a variety of jobs on the city desk, where he wrote about markets, commodities and other business and economics topics.
Friday 28 October 2011
The number of people paying into occupational pension schemes has declined to around 8.3 million, the lowest since the mid-1950s, according to the Office for National Statistics.
The ONS said 5.3 million people paid into public-sector schemes last year, while 3 million paid into private schemes. The total figure stood at 8.7 million in 2009. "With a greying population living longer and longer, it's the last thing our society needs," Joanne Segars, head of the National Association of Pension Funds, said.
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