This report via Accounting Web and Interactive Investor caught our eye recently:
Under pensioned, under-prepared and under pressure: new interactive investor report (Summary via Accounting Web)
Second-class retirement: the self-employed experience (full report)
Its possible when we were young pensions were the least of our worries, but as we age there comes a time when not only does a pension become a greater priority, you actually reach a time when checking your pension fund is a weekly, maybe daily, task.
This report looks at the state of pension arrangements for the Self Employed, and quite shockingly finds:
- 38% have no pension savings at all, rising to 50% amongst under 35s cohort
- Almost two fifths (37%) of self-employed people aren’t paying into a pension
- 90% of self-employed workers aged 55 plus are off track for a moderately comfortable retirement, with less than £250,000 saved in their pensions
- Six in 10 have less than £10,000 in pension wealth.
Take the time to have a look at this, and make sure you are on the right path for retirement.