04 August 2020

Self-employed see property as safest way to save for retirement as they remain frozen out of auto-enrolment

3 min read

Helen Morrissey, Personal Finance Specialist
Helen Morrissey

Corporate PR Specialist – Long Term Savings

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Helen Morrissey, pension specialist at Royal London comments on Wealth and Assets Survey data on how the self-employed are preparing for retirement.

“Today’s data shows that the self-employed continue to see property as the safest way to prepare for their retirement – outstripping pensions by some distance. While property has its place in a retirement planning strategy care must be taken not to be overly reliant on any one asset as if prices fall then retirement plans can unravel. Boosting pension participation among this group is vital and yet they remain frozen out of auto-enrolment – a policy that has boosted the retirement prospects of millions. This is something government must review urgently.”

-ENDS-

Notes to Editors

The data can be found here – under Table 2.4:

Early indicator estimates from the Wealth and Assets Survey: Attitudes towards saving for retirement

For further information please contact:

Helen Morrissey, Corporate PR Specialist – Long Term Savings

About Royal London:

Royal London is the largest mutual life insurance, pensions and investment company in the UK, with assets under management of £139 billion, 8.6 million policies in force and 4,348 employees. Figures quoted are as at 30 June 2020.