Release: Pensions in the National Accounts, A fuller picture of the UK's funded and unfunded pension obligations.
Contact
Sarah Levy or Hazel Clarke
Pensions Analysis Unit
pensionsanalysis@ons.gsi.gov.uk
Telephone: +44 (0)1633 455633
Categories: Economy, Personal Finances, National Accounts
Frequency of release: Ad-hoc
Language: English
Geographical coverage: UK
Geographical breakdown: UK
- At the end of 2010, the total accrued-to-date pension obligations of all UK pension providers were estimated at £7.1 trillion, nearly five times the UK’s Gross Domestic Product (GDP). The total comprised £5.0 trillion of government obligations and £2.1 trillion of private sector obligations.
- Of the £5.0 trillion pension obligations for which the UK government was responsible at end-2010, £3.8 trillion were in respect of state pensions (263 per cent of GDP). The latest comparable EU-level estimate (for end-2007) was 278 per cent of GDP.
- Obligations relating to unfunded pensions for public sector employees in the UK at end-2010 were estimated at £0.9 trillion (58 per cent of GDP). The latest comparable EU-level estimate (for end-2007) was 52 per cent of GDP.
In this release
- A fuller picture of the UK’s funded and unfunded pension obligations
- Annex 1: State pension estimates for the UK Supplementary Table on Pensions
- Annex 2: Data sources and methods for the UK Supplementary Table on Pensions, 2010
- Pre release access list for Pensions in the National Accounts (Pdf 28Kb)
Third in a series of methodology articles describing work to compile the pensions supplementary table for the National Accounts, part of preparation for ESA2010.
Other useful information
- Pensions in the National Accounts - compiling a complete picture of UK pensions including unfunded pensions for public sector employees (methodology article 2011)
- Pensions in the National Accounts - Compiling Estimates of State Pension Obligations for the National Accounts (Methodology Article 2011)
Content from the Office for National Statistics.
© Crown Copyright applies unless otherwise stated.
© Crown Copyright applies unless otherwise stated.
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