Inter and intra cohort differences in incidence of private pension contributions

This paper investigates intra and inter cohort differences in private pension contributions, examining the extent of variation associated with key socio-demographic characteristics including gender, marital status and educational attainment. Using data from the Family Resources Survey from 1999-2000, 2004-2005 and 2009-2010 to understand these trends, this study aims to assess the extent to which the current and proposed changes to the legislative framework will address the particular circumstances of those most likely to be at risk of financial under-provision at old age. Initial findings from bivariate analysis using age, period and cohort perspectives indicate a downward trend in private pension participation by men, within and across cohorts over time. Women, in contrast, have maintained similar levels of contribution rates during the period under investigation. There are notable variations between men and women depending on their marital statuses, with single individuals across all cohorts less likely to make private pension contributions, even as they approach old age. For both men and women, later exit from education is associated with a higher incidence of private pension contributions, although over the period of investigation, there is a fall in the levels of men making private pension contribution.