(30) Featured statistic: 5.7%

The average employee this year saves 5.7% of salary to build up retirement pension. For 2005, this figure was 5.9%. The employer contributes another 10.1% of salary, against 10.7% last year. 

The decline of retirement pension contributions is caused by the discontinuation of early retirement schemes. However, many pension funds have tried to mitigate the effect this had for employees by improving on their regular retirement schemes. The accrual rate of pension saved each year has gone up in 2006, while the pension offset (i.e. the contribution-exempt share of wages assumed to account for the build-up of ‘AOW’ state pension) has come down.

Graph - Retirement pension 2006