The UK’s self-employed workforce faces a pensions ‘obstacle course’ to save for retirement, a paper by the Society of Pension Professionals (SPP) has warned.
The body's paper – The Missing Millions: Rethinking Pension Policy for the Self-Employed – said there was a consensus that automatic enrolment (AE) had transformed the UK's pensions system, with millions more employees now saving for their retirement. However, it noted that despite this transformation, the self-employed have been left behind and a "substantial" cohort of self-employed workers are at risk of reaching retirement with inadequate pension savings. The SPP noted the Pensions Commission's interim report found only 4% of the UK's self-employed are currently saving into a pens...
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