Self-employment offers many benefits: being your own boss and having the flexibility to choose your working hours being but a couple of examples. But when it comes to pensions, those who work for themselves are finding they’re at a disadvantage.
Research7 has revealed that, although 74% of self-employed people think it’s important to save for retirement, only 24% are currently paying into a pension. Furthermore, over half (55%) would welcome more guidance on funding their retirement, suggesting they lack the confidence and knowledge to plan for the future alone.
Excluded from auto-enrolment
One major reason why so few self-employed people are currently contributing to a pension is that they are not eligible for auto-enrolment. Over 10 million employed people have now been automatically enrolled in a workplace pension scheme by their employer, but no such option is available for the self-employed8.
Professional advice for your peace of mind
If you are self-employed and want to begin saving for retirement, but perhaps don’t know how best to go about it, then professional advice will really help to give you peace of mind and boost your confidence about the years ahead. We can support you to find the pension plan that best suits you, so that you can look forward to the future.
7Nest Insight, 2019
8The Pensions Regulator, 2019