UK companies made £8 billion ($15.1 billion) of special contributions to reduce pension deficits during 2004 – an increase of nearly a quarter from 2003.
Figures released by the Office for National Statistics show that employers’ total contributions to self-administered pension schemes were £25.6 billion – a record four and three quarter times as much as the £5.4 billion contributed by employees.
“Employees are now seeing the true value of their final salary pension schemes,” said Stephen Yeo, a partner at global consulting firm Watson Wyatt.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
