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  5. Government can no longer afford to ignore self-employed when it comes to pensions Government can no longer afford to ignore self-employed when it comes to pensions

21 January 2020

Government can no longer afford to ignore self-employed when it comes to pensions

2 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 today’s ONS figures showing that the number of self-employed people has now passed 5m.

“The government can no longer afford to ignore self-employed people when it comes to pension provision. While auto-enrolment has helped more than 10m people start building a retirement pot the self-employed have so far been chronically underserved. 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.”

 

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Notes to editors

  1. ONS figures on Labour market overview can be found here: https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/bulletins/uklabourmarket/january2020

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.