Saving for later life

Retirement savings a distant dream for many freelancers

What are the issues?

There is growing concern about the lack of saving for later life among the self-employed.  It’s a serious worry not just for the self-employed themselves, but also Government and providers across the UK.

At present, just 16% of self-employed people are paying into a pension, and many are not saving for later life at all.

We are working hard with the Government and stakeholders across the country to address the issue and secure better pension support for the self-employed.

What we are doing:

IPSE is always campaigning to further understand saving for later life among the self-employed and improve pension provision.

In 2016, IPSE commissioned research into the savings habits of independent professionals for their later life. Some of our findings included:

  • Over a third of freelancers are unable to contribute towards a pension fund
  • 33 per cent use property as a method of saving
  • Of those who were able to save, 63% used a pension fund

Click the link below for the original report: