Making pension saving mandatory for the self-employed is a measure that many people who work for themselves would support, according to a new survey by Prudential. At present, this group makes up one of the largest segments of the workforce not covered by auto-enrolment, and the research revealed two out of five self-employed workers have no private pension.
The poll found that 27% would support making pension saving compulsory, with the same number willing to support the expansion of auto-enrolment to encompass the self-employed. The question of how to help such workers save for the future is one of two major outstanding issues for the government as it considers the future of auto-enrolment, alongside how to help those in jobs paying below the current auto-enrolment threshold of £10,000 a year.
Prudential Retirement Expert Vince Smith-Hughes 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."