15 October 2020

Government needs to look at ways of getting millions of self-employed people saving into pensions

2 min read

Mona Patel, Group Head of External Communications
Mona Patel

Group Head of External Communications

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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

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.