Recent figures released by the Pensions Board highlight that the number of individuals with occupational pension schemes stands at 771,878 as at April 2012. This figure represents a reduction of approximately 5% on 2010 occupational pension coverage figures. However, it does not include the latest figure of 198,028 for those with Personal Retirement Savings Accounts which has increased by almost 11,000 on 2010 levels.
A decline in occupational pensions can be expected due to the increase in unemployment and contractions in the economy over recent years. However, the Government is committed to increasing pension coverage and will continue with the implementation of long-term policy aimed at promoting better pensions security and long-term stability of pensions.