Only 370,000 Self Employed People Have A Private Pension

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October 19th 2019
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Only 370,000 Self Employed People Have A Private Pension

Latest stats show the number of people with private pension plans and how much they contribute.

In the UK, 8.5 million people contribute to private pension plans, 5 million male and 3.5 million female. The majority are males aged between 25 and 54, 3.7 million people. The largest group of females with private pension plans are aged between 25 and 54 too, 2.5 million people.

8 million employed people have private pension plans, contributing on average £3,120 each per year. 370,000 self employed people have private pension plans, each contributing per year £4,300 on average.

30,000 unemployed people pay money into a private pension, average around £4,150 per year.

In England, 7.3 million people have private pensions. This is followed by Scotland with 700,000, then Wales with 320,000 and then Northern Ireland with 170,000 people.

The majority of people with private pension plans are in London or the South-East. 1.34 million in London and 1.29 million in the South-East.

These statistics are the most up-to-date figures released by HMRC based on the information they receive from the private pension companies. The latest data-set was for the 2016/2017 tax year.

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