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...

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