Recent statistics show that business owners and the self-employed are putting their futures at risk by not saving adequately for retirement
According to research completed by the Standard Life, half of self-employed 35-44 year olds have a pension provision of less than £3,500 compared to the average £73,000 for employed people of that age
“The recession has created a cohort of self-employed entrepreneurs who are absolutely focused on maintaining their successful business,” said Andrew Tully, senior pensions policy manager at Standard Life
While business owners hit back by saying “being self-employed means that I have more control over my ultimate life-time earnings by being self-employed, than if I was at the whims of a company that could lay me off at any time”
What do you think?
We’d love to hear your opinions on this matter as it seems likely that in the future self-employed people along with business owners will have the responsibility to provide their own pension savings as the governments ‘pot’ is increasingly becoming empty.
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