UK. Pension saving plummets when employees move into self-employment
Currently, only around one-in-five self-employed workers save into a private pension, compared with around four-in-five employees. There is widespread agreement that there is an urgent need for policies addressing low pension participation among the self-employed, as recently highlighted by the Second Pensions Commission. A key potential moment for such policies is the point when employees move into self-employment. Currently, even among employees consistently saving in a pension, more than three-quarters stop saving in a pension once they start being self-employed. This...
