Record number of self-employed workers missing out on pensions

Alistair McQueen, Head of Savings & Retirement at Aviva, comments on record number of self-employed workers missing out on pensions.

Alistair McQueen, Head of Savings & Retirement at Aviva, said:

“The UK now has a record number of self-employed workers – 4.86 million, representing more than one-in-seven of all in employment.1 This comes as the Financial Conduct Authority has warned that 15 million workers are not saving into a pension.2

“Automatic enrolment has transformed pension saving in the past five years, introducing more than 8 million employees into workplace pensions. But this system does nothing for the record number of self-employed – they are excluded.“

Recent HMRC figures reported that personal pension saving amongst self-employed workers has fallen to an all-time-low of just 350,000.3

“The Government is reviewing automatic enrolment this year and is considering the recommendations of the Taylor Reviewof the self-employed.  We should celebrate its success, but today’s figures highlight the need to help the growing army of self-employed workers. This army is at severe risk of being left behind.”







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Notes to editors:

  • Aviva provides life insurance, general insurance, health insurance and asset management to 33 million customers.
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