Occupational pensions are a major factor in reducing pensioner poverty, according to new research conducted for the National Association of Pension Funds.
The report, by a the National Institute of Economic and Social Research, concludes eight out of ten of today's pensioners have a standard of living at least as high as the average level achieved by the whole population in 1995.
The research puts this down to the marked increase in the proportion of retired people who receive occupational pensions.
NAPF chairman Peter Thompson says: “Occupational pensions reduce dependence on the safety net of means tested state benefits. We urge the Government to do all in its power to ensure occupational pension schemes continue to be the welfare success story in the 21st century.”