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yellowhatonacapybara · 19/05/2026 17:26

The big problem for the self-employed (and I am one of them) is that given my income fluctuates significantly and I need to put aside money to live during the times I have lower incomings, locking money away, even with the tax benefits, feels like a very bad idea.

SomedayIllBeSaturdayNight · 19/05/2026 17:25

FernFaery · 19/05/2026 17:21

Mine too. No doubt it’ll become ‘means tested’ so, as ever, the sensible among us will be no better off than those who didn’t bother because ‘why shouldn’t they have it, do you want them to starve etc’

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What do you mean? What do you think should happen to those in poverty when they retire?

SomedayIllBeSaturdayNight · 19/05/2026 17:24

Brahumbug · 19/05/2026 17:19

That's why workplace pensions need to be compulsory with no opting out.

The report I heard said that this is not sufficient, and we should be saving at least 10% of our income monthly.

WaterlooBridge · 19/05/2026 17:23

It’s the self-employed who seem most vulnerable with no auto-enrollment equivalent.

Keeps the pressure on to maintain the triple lock, if so many will have nothing other than the state pension.

Original poster
FernFaery · 19/05/2026 17:22

Brahumbug · 19/05/2026 17:19

That's why workplace pensions need to be compulsory with no opting out.

I agree but there are millions not in work and the number is rising.

OP posts:
NotTheOrdinary · 19/05/2026 17:21

Some people barely earn enough to pay the bills. How are they meant to save for a pension too?

Original poster
FernFaery · 19/05/2026 17:21

Dweetfidilove · 19/05/2026 17:20

I just heard this report and my heart sank. Apparently the pension bill is expected to go up in multiples, as even those who are saving, are not saving enough.

Given we're locked in an extended COL, I can't imagine this will improve any time soon.

Mine too. No doubt it’ll become ‘means tested’ so, as ever, the sensible among us will be no better off than those who didn’t bother because ‘why shouldn’t they have it, do you want them to starve etc’

OP posts:
Dweetfidilove · 19/05/2026 17:20

I just heard this report and my heart sank. Apparently the pension bill is expected to go up in multiples, as even those who are saving, are not saving enough.

Given we're locked in an extended COL, I can't imagine this will improve any time soon.

Brahumbug · 19/05/2026 17:19

That's why workplace pensions need to be compulsory with no opting out.

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