Self-employed people who plough their income into their business and dismiss retirement planning are taking a risk, research has suggested.
Prudential's Class of 2012 survey found 46% of small business owners have no private pension savings in place. Nearly a fifth (18%) of this group do not intend to save for retirement and plan to continue working instead. More than a quarter (27%) of the 448 people polled said they prefer to invest in their company rather than a pension, while 23% favour re-investment over any other form of personal saving. Stan Russell, retirement expert at Prudential, said: "It's easy to see why many self-employed workers prioritise investing in their businesses over saving into pensions when time...
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