Self-employed clients get unexpected pension funding opportunity

For those seeking to maximise their pension saving, the timing is perfect

clock • 4 min read

Dave Downie explains what the self-employed basis period change means for pension funding...

Some self-employed clients are set to get an unexpected opportunity to boost their pension funding, as self-employed profits align with the tax year from April 2024. The alignment means there will be many clients with a higher than anticipated pensionable income in the 2023/24 tax year - otherwise known as the transitional year before the self-employed basis period change comes into effect in 2025. According to the Office for National Statistics, only 20% of self-employed individuals were contributing to a pension between 2018 and 2020, which means there is a huge opportunity for some...

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

Salary sacrifice changes to see 2.8 million cut back pension saving

Salary sacrifice changes to see 2.8 million cut back pension saving

According to Freedom of Information request to HMRC

Sophia Panayi
clock 01 June 2026 • 2 min read
Beyond the numbers: Understanding clients' emotional journey into retirement

Beyond the numbers: Understanding clients' emotional journey into retirement

'Supporting clients through the transition into retirement requires far more than technical financial expertise alone'

Catherine Foot
clock 29 May 2026 • 5 min read
Young disabled people face £245,000 pension gap

Young disabled people face £245,000 pension gap

PensionBee research finds

Sophia Panayi
clock 27 May 2026 • 4 min read