Self employed retirement crisis

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Self-employed face old age of destitution New research shows nearly two-thirds of self-employed workers have no savings at all for old age and changes to pension rules mean business owners and sole traders face getting burdened with high tax bills if they try to contribute too much when they have a good year or sell their business. A new survey by Fidelity reveals that 62% of self-employed people have no pension, compared with 32% of employed workers. The Sunday Times’ Kate Palmer adds that not only are the self-employed at risk of being caught out by the pension rules, they are also excluded from auto-enrolment

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