Quilter flags drop in private pension contributors despite record contribution levels

• Quilter flagged weakening UK personal pension saving in 2024-25, with contributors falling to 6.4 million from 6.8 million.
• Self-employed participation also declined, despite average contributions rising to a record overall level.
• Pensions tax relief rose nearly GBP 5 billion to GBP 83.9 billion, with 57% at the higher rate, 14% at the additional rate.
• Employers remained the largest beneficiaries, keeping tax relief policy in focus ahead of potential fiscal changes.
• Workplace pensions strengthened, with 90% of employees saving into a pension, up 600,000 from 2024.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Quilter plc published the original content used to generate this news brief on July 30, 2026, and is solely responsible for the information contained therein.