UK: market value of pension schemes 2022

From 2019 through to the end of 2022, 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 December 2022, by pension scheme type (in trillion GBP)

Characteristic	Private sector DBH	Private sector DC + Public sector DBH
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Release date

June 2023

More information

Region

United Kingdom

Survey time period

December 2019 to December 2022

Supplementary notes

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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