Fewer pay into pension schemes

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.