The self-employed are likely to be the worst off class of professionals in retirement, according to ...
The self-employed are likely to be the worst off class of professionals in retirement, according to the latest figures from JPMorgan Fleming (JPMF).
The company's Pension Map of Britain research shows around 68% of the self-employed are likely to have a pension income of less than 40% of their final pre-retirement salary.
Professionals emerge as the most likely to have a comfortable retirement, with 37% of individuals in this group expected to receive a pension income equal to 50% or more of their final salary. By comparison, only 30% of employees and 22% of the self-employed currently have enough pension provision to generate this level of retirement income.
This is the sixth year JPMF has carried out its Pension Map of Britain research, which forecasts the percentage of final, pre-retirement salary working individuals can expect to receive as pension income, based on their current pension provision, including personal and occupational pensions.
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