NAPF Comments on the ONS Pension Trends

Commenting on the Pensions Trends data published by the Office for National Statistics today, Joanne Segars, Chief Executive of the National Association of Pension Funds (NAPF), said:

“These trends indicate that working past the state pension age is increasingly becoming part of our way of thinking.

“An increasing number of people are also making their transition into retirement by working part-time. For many working longer is a must because they have not built up enough funds to be able to retire.

“We need a pensions system that is fit for purpose and enables people to save more easily for retirement.

“Encouragingly the recession has had only a little impact on workers who are keeping their job beyond the state pension age. As we live longer, it is inevitable that we will have to work longer. Employers increasingly recognise the value that an older workforce can bring.”

Notes to Editors

1.The NAPF is the leading voice of workplace pensions in the UK. We speak for 1,200 pension schemes with some 15 million members and assets of around £800 billion. NAPF members also include over 400 businesses providing essential services to the pensions sector.

Contacts:

Paul Platt, Head of Media, NAPF, 020 7601 1717 or 07917 506 683, [email protected] 

Christian Zarro, Press Officer, NAPF, 020 7601 1718 or 07825 171 446, [email protected]