Record numbers save through an occupational pension

New official statistics released yesterday show that a record number of people are saving for their pension, as Britain's savings culture has been transformed and this will mean that people have greater financial security in their retirement. 

Key facts: 

  • There are 45.6 million people with an occupational pension, the highest ever level. Since we introduced automatic enrolment in 2012, the number of people saving into private sector schemes has increased fourfold – from 2.7 million in 2012 to 11.0 million in 2018. 
  • This shows what has been achieved since 2010 in the fields of both our employment successes and pensions policies. 
  • The Conservative government is also backing industry to deliver pensions dashboards – capturing all someone’s retirement savings information in one place, helping people take control of their savings at the touch of a screen. 

Why this matters: 

By transforming the savings culture, we are enhancing the prospects of millions of workers by offering them future dignity and security – and ensuring the UK is the best country in the world to grow old.

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