Trials utilised technology to assist self-employed savers boost contributions
The pilots with Penfold and Moneyhub will test forms of flexible saving for self-employed
Online provider Pension Bee has created a flexible pension for self-employed savers, allowing them to make contributions according to their income.
Nest Insight and the Department for Work and Pensions (DWP) are set to conduct research to examine the financial impact of Covid-19 on self-employed people.
Workplace pension schemes may not be doing enough to fix ‘pension blind spots’ as many workers remain unaware of the benefits available to them, the Money and Pensions Service (MAPS) has found.
Three-quarters of self-employed workers agree it is important to save for retirement, and more than half want help with it, according to NEST.
The overall cost of pension tax relief rose slightly in 2016/17 to £38.6bn, from £38.5bn in 2015/16, according to annual HMRC estimates, representing a "stabilisation" compared with previous years.