Two million self-employed have no pension savings - Prudential

'Want government pension saving help'

Sophie King
clock • 2 min read

Two-in-five self-employed workers do not have a pension and more than half want the law changed to encourage them to save for retirement, according to research from Prudential.

The life company said two-fifths of self-employed workers - the equivalent of two million people - have admitted to having no form of pension and more than one-quarter said they will be reliant on the state pension as their main source of retirement income, which is currently worth just £8,546 a year. According to Prudential's study of 1,178, conducted by independent researchers Consumer Intelligence, one-quarter (27%) of those questioned would support the expansion of auto-enrolment to cover the self-employed while the same amount (27%) would back compulsory pensions saving. Prudenti...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Adviser chases Hartley Pensions for ten months over clients' SSAS transfer

Adviser chases Hartley Pensions for ten months over clients' SSAS transfer

Takes case to The Pensions Ombudsman

clock 10 September 2026 • 2 min read
Pension changes to impact more than half of advised clients

Pension changes to impact more than half of advised clients

Advisers’ biggest concern is not understanding the pension IHT rules

Sophia Panayi
clock 09 September 2026 • 2 min read
HMRC updates on information sharing for IHT on pensions

HMRC updates on information sharing for IHT on pensions

Second technical note

Alex Levy
clock 01 September 2026 • 2 min read