DC savers to overtake DB within two years, research

DC savers 'contributing a third' of DB savers

Hannah Godfrey
clock • 2 min read

The number of people saving into defined contribution (DC) pensions is set to overtake those with defined benefit (DB) plans within two years, Saga Investment Services has said.

In its report - The Future of Pensions - the investment service for the over 50s said  final salary pensions were fast disappearing in the private sector with employees being offered DC pensions instead. This will lead to the total number of active DC pension members to overtake the number of DB members by 2018, according to the report. Saga said the number of private sector DB savers fell by two million (56%) between 2004 and 2014, while the number of DC scheme savers almost tripled from 1.2 million to 3.2 million. Of the 2.5 million entrants into private sector occupational schem...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

FCA data reveals 'notable advice gap' in drawdown

FCA data reveals 'notable advice gap' in drawdown

Almost half of pots entering drawdown now do so without regulated advice

Sophia Panayi
clock 24 September 2026 • 2 min read
Action 'needed now' on salary sacrifice to minimise disruption

Action 'needed now' on salary sacrifice to minimise disruption

LCP says early preparation will help employers navigate the transition

Jonathan Stapleton
clock 24 September 2026 • 2 min read
Self-employed face retirement saving 'obstacle course'

Self-employed face retirement saving 'obstacle course'

‘Structural gap’ in participation between employees and self-employed

Martin Richmond
clock 22 September 2026 • 4 min read