From 2019 through to the third quarter of 2023, the total combined value of the private sector defined benefit and hybrid (DBH) scheme was consistently higher than the value added by the combined worth of the public defined contribution (DC) and private DBH schemes. The total overall value of UK pension schemes peaked in the fourth quarter of 2021, totaling almost three trillion British pounds.
Market value of pension plans in the United Kingdom (UK) from December 2019 to September 2023, by pension scheme type
(in trillion GBP)
Defined benefit plans are protected, within certain limitations, by federal insurance provided through the Pension Benefit Guaranty Corporation (PBGC). This is different from a defined contribution plan which does not promise a specific amount of benefits at retirement. A hybrid pension scheme is one which is neither a fully defined benefit (DB) scheme or a fully defined contribution (DC).Defined benefit and hybrid (DBH) is the combination of both.
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Office for National Statistics (UK). (March 21, 2024). Market value of pension plans in the United Kingdom (UK) from December 2019 to September 2023, by pension scheme type (in trillion GBP) [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/1403774/market-value-of-pension-plans-in-the-uk-by-pension-scheme-type/
Office for National Statistics (UK). "Market value of pension plans in the United Kingdom (UK) from December 2019 to September 2023, by pension scheme type (in trillion GBP)." Chart. March 21, 2024. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1403774/market-value-of-pension-plans-in-the-uk-by-pension-scheme-type/
Office for National Statistics (UK). (2024). Market value of pension plans in the United Kingdom (UK) from December 2019 to September 2023, by pension scheme type (in trillion GBP). Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/1403774/market-value-of-pension-plans-in-the-uk-by-pension-scheme-type/
Office for National Statistics (UK). "Market Value of Pension Plans in The United Kingdom (Uk) from December 2019 to September 2023, by Pension Scheme Type (in Trillion Gbp)." Statista, Statista Inc., 21 Mar 2024, https://www.statista.com/statistics/1403774/market-value-of-pension-plans-in-the-uk-by-pension-scheme-type/
Office for National Statistics (UK), Market value of pension plans in the United Kingdom (UK) from December 2019 to September 2023, by pension scheme type (in trillion GBP) Statista, https://www.statista.com/statistics/1403774/market-value-of-pension-plans-in-the-uk-by-pension-scheme-type/ (last visited November 21, 2024)
Market value of pension plans in the United Kingdom (UK) from December 2019 to September 2023, by pension scheme type (in trillion GBP) [Graph], Office for National Statistics (UK), March 21, 2024. [Online]. Available: https://www.statista.com/statistics/1403774/market-value-of-pension-plans-in-the-uk-by-pension-scheme-type/
