Pensions
(asked on 11th December 2014) - View Source
Question to the Department for Work and Pensions:
To ask Her Majesty’s Government what is their estimate of the proportion of people whose defined contribution pension fund is in the ranges (1) £0 to £5,000, (2) £5,000 to £10,000, (3) £10,000 to £15,000, (4) £15,000 to £20,000, (5) £20,000 to £25,000, (6) £25,000 to £30,000, (7) £30,000 to £35,000, (8) £35,000 to £40,000, (9) £40,000 to £45,000, (10) £45,000 to £50,000, and (11) over £50,000.
Estimates of defined contribution wealth in the accumulation phase have been made by DWP using the Wealth and Assets survey (WAS). The analysis excludes individuals with zero DC wealth and includes all adults aged 16 and over.
Table 1: Distribution of individuals with wealth in DC pensions not yet in payment, 2010/12
DC Wealth in Accumulation phase | % of individuals |
between £0 and £4,999 | 26 |
between £5,000 and £9,999 | 14 |
between £10,000 and £14,999 | 10 |
between £15,000 and £19,999 | 8 |
between £20,000 and £24,999 | 5 |
between £25,000 and £29,999 | 4 |
between £30,000 and £34,999 | 4 |
between £35,000 and £39,999 | 3 |
between £40,000 and £44,999 | 3 |
between £45,000 and £49,999 | 2 |
greater than £50,000 | 21 |
Source: DWP analysis of ONS WAS data from 2010-12 (Wave 3)