5 pension facts
1. One in five people in the UK are
active, deferred or pensioner members and dependents of public
service pension schemes. This is around 12 million people.
2. Across the public sector the mean average
pension is £7,800 per year. The median is £5,600 per
year. The median for women across the public
sector is just under £4,000 with 65% receiving less than
£6,000.
The breakdown of the typical pension in different
sectors is as follows:
- Local Government: £3,048
- NHS: £4,087
- Teachers: £10,275
- Civil Service: £5,023
3. The change in the indexation from RPI to
CPI reduced the value of pensions to scheme members by around
15%.
4. Including the move from RPI to CPI
public service pension benefit expenditure from unfunded schemes is
expected to reach 1.9% of GDP in 2010-11 and remain close
to this level for the next decade before decreasing to 1.4% of GDP
by 2060.
5. Around 85% of public sector
employees have some form of employer sponsored pension provision
compared to around 35% in the private sector. In the
private sector about 2.6 million are active members of non-public
service DB schemes. Of these, only 1.1million were in schemes still
open to new members (this is from 2008 so is likely to be less
now).
