Latest Industry News
16 Nov 2018
A survey carried out by insurance firm Prudential has suggested that over half of self-employed workers would back plans to expand pensions auto-enrolment, or make pension saving compulsory.
According to the survey, 27% of those polled would support the expansion of pensions auto-enrolment to cover the self-employed, and an additional 27% would back compulsory pension saving.
The survey also revealed that 18% of self-employed workers ‘do not believe that pensions apply to them’, while 20% stated that they find pensions rules ‘very confusing’.
Furthermore, 28% of individuals surveyed reported that they will be reliant on the State Pension as their main source of retirement income.
Commenting on the survey, Vince Smith-Hughes, Head of Business Development at Prudential, said: ‘It is clear that the self-employed want help in saving for retirement and that the State Pension alone may not be enough for a comfortable retirement.
‘We believe it is important that the government works with the self-employed and the pensions industry to ascertain the most suitable option and put appropriate rules in place as soon as practicable.’
For tailored advice on how to best manage your personal and business finances, get in touch with us today and find out about how CBHC can help you do more with your money.