UK bottom in self-employed pensions table
A study by Aegon has revealed that 52% of self-employed people in the UK do not have a retirement plan, leaving Britain bottom for retirement provision in its survey of the self-employed in 15 countries. Just 44% of the self-employed in Britain have made plans for their retirement, compared with an average of 60% globally, and only 20% are confident they will be comfortable in retirement. More than half – 52% – of those in the UK say they expect they will still be working after the age of 65.
The results of the survey are hardly surprising - the relentless tax assault on businesses, costly red tape like auto enrolment, burdensome employment law have all dramatically eroded business profit levels. Often business owners make so little that there is only just enough to fund day to day living, never mind provide for retirement.