Solving the problem of pensions for the self-employed

Stephanie Hawthorne says millions of the UK’s self-employed are being left out of pensions

clock • 11 min read
Some four million of the UK's population are self-employed
Image:

Some four million of the UK's population are self-employed

The powerhouse of the UK economy is its forgotten army of self-employed workers. Yet little has been done, for the most part, to improve their dismal retirement prospects. Omitted from the UK’s 2012 pension reforms some 3.5 million self-employed people of working age shockingly save nothing in a private pension. They are left out in the cold.

Yet auto-enrolment (AE) has boosted workplace pension participation among employees earning more than £10,000 a year to a record four in five of the population. By contrast, only one in five of ...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

Webinar: The PPF Purple Book - View on demand now

Webinar: The PPF Purple Book - View on demand now

PP joins PPF’s Shalin Bhagwan and James Emmott to discuss the latest DB scheme data

Jonathan Stapleton
clock 10 December 2024 • 1 min read
Railpen updates on 2025 voting policy

Railpen updates on 2025 voting policy

Investment manager strengthens policy on shareholder protections, audit quality and ESG risks

Jasmine Urquhart
clock 10 December 2024 • 2 min read
IFoA report highlights actuarial involvement with cyber risk management

IFoA report highlights actuarial involvement with cyber risk management

IFoA said cyber risk is a ‘significant and evolving risk’ for actuaries to monitor

Holly Roach
clock 09 December 2024 • 2 min read
Trustpilot