Occupational pensions in sharp decline

A dramatic fall in the number of private sector employees paying into workplace pension schemes has been revealed.

Figures released by the Office for National Statistics yesterday showed there were about 400,000 fewer members of company pension schemes in 2007 than 2006.

This 10% fall came during a year when public sector occupational pension schemes grew by 100,000 members.

The 2007 figures show 3.6m private sector and 5.2m public sector workers in occupational pension schemes.

There were just 28,679 private sector occupational pension schemes open last year, down from 32,594 the year before.