Govt Actuary - 10th survey of Pension Schemes

Posted on Feb 28, 2001

Industry trends continue to be away from final salary to money purchase provision and away from occupational schemes to insured group personal pension and stakeholder friendly arrangements.

The 10th Government Actuary's Survey of Occupational Schemes shows the lowest membership levels since 1956 and in a DSS Survey we learn that 70% of today's pensioners have to rely on state pensions having no other provision.

Another Survey "UK Executive Pension Provision 2000" has revealed that two thirds of employers have ditched final salary promises for executives earning over the "Earnings Cap". The results also show that the cap affects almost 50% of executives and that 20% of companies do not pension excess earnings.