More public sector staff in pension schemes
Monday, 16 July 2012
More public sector staff were in a workplace pension scheme when compared to those in the private sector, a new study has found.
The Office of National Statistics' Wealth and Assets Survey discovered that the workplace pension wealth of employees in the public sector is as high as £90,100, which is over double that of staff in the private sector, reports EmployeeBenefits.
In 2008/10, 18 per cent of individuals picked up income from a private pension, while aggregate household private pension wealth in Britain jumped to £4.8 trillion in 2008/10.
This marks a significant increase from the £3.7 trillion figure that was reported in 2006/08.
The ten per cent of households which had the highest levels of pension wealth had nearly seven times as much money as those in the bottom 50 per cent combined.
Pension schemes could be used as an effective employee benefit for companies, as the perk may help to boost workers' loyalty at firms./script>