Mona Patel, consumer spokesperson at Royal London, comments on the Institute for Fiscal Studies’ (IFS) research which shows a sharp fall in self-employed pension savers over the past two decades.
“Encouraging the self-employed to save into a pension must become a priority with innovative thinking on how we can boost engagement among this group. Auto-enrolment has helped more than 10m people to start building up a retirement pot but the gulf between their pension pots and those of the self-employed looks set never to close.
"Government needs to move on from small scale pilots to look at ways of getting millions of self-employed people saving into pensions, including using new nudges via HMRC and the tax return process.”
For further information please contact:
Mona Patel, Group Head of External Communications
- Email: Mona.patel@royallondon.com
- Tel: 0203 272 5133
- Mob: 07919 171964
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.