CONCERN OVER PENSIONS FOR LONE COMPANY OWNERS
December 2 2015.



Pension provision among the UK’s self-employed has collapsed, storing up future income problems for individuals and welfare problems for the taxpayer, a pensions expert says.


They are becoming the ‘forgotten workers’, left behind by the auto-enrolment system, according to Tom McPhail, head of retirement policy at Hargreaves Lansdown.

He adds that auto-enrolment is working its magic for millions of employees but in the meantime, the self-employed have been all but forgotten about by policymakers.

'The two key elements of auto-enrolment are the default membership of a private pension and the benefit of the employer contribution. It may be that the only way to deliver these benefits for the self-employed is through the tax and National Insurance system.


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