The Association of British Insurers (ABI) argues self-employed people should be automatically enrolled into any new low cost savings scheme such as the National Pension Savings Scheme (NPSS) or its own idea for ‘Partnership Pensions'.
In its latest report: ‘Serious about saving: improving pension provision for self-employed people’ the ABI claims the self-employed lose out in the current pension system, as they do not benefit from either the State Second Pension (S2P) or from employer contributions. As a result, it says the forthcoming White Paper on pensions reform should include a better deal for the self employed, and has suggested four key elements which should be incorporated. Make the self-employed eligible for the S2P by increasing their national insurance (NI) contributions Automatically enrol the self-emp...
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