IPSE survey reveals contractors’ concerns about pensions

The Association of Independent Professionals and the Self Employed has commissioned a survey which has revealed that more than half of the flexible workforce are considering their retirement and keen to make plans for their pensions. With nearly 10 per cent revealing that they are unsure as to the best way to prepare for their retirement and over a third of respondents saying that they felt unable to contribute towards a pension fund, IPSE are using this information to apply pressure to policy makers to offer more support to those who need it.

With an increase in the number of people working for themselves, IPSE believe that the government’s promised review into flexible pension options for contractors, freelancers and other self employed individuals needs to be prioritised. Many of those surveyed were already saving for the future, with 63.2 per cent using a pension fund, 28.9 per cent investing in stocks and shares and a third opting for property as their savings plan of choice.

Chris Bryce, Chief Executive of IPSE, is keen to highlight the importance of providing options for those who are contributing so significantly to the UK’s economic recovery. The results of this survey confirm what those who work for themselves already knew – that there is a real need for innovative solutions to the problems that they face when it comes to financial products designed to meet the needs of those who are unable to guarantee a regular amount for their savings.

The government’s proposed review of the issues surrounding finances for the flexible workforce is one which IPSE support, but the results of this most recent survey has reinforced their commitment to ensuring that the process gets underway as soon as possible in order to provide for those who are supporting the economy.

Anyone who is considering a move from permanent employment to contracting could benefit from our FREE 60 page guide to contracting which covers a range of issues from starting out to planning for your future. We also have a range of free contractors’ guides which have plenty of advice and information, and our guide to the advantages and disadvantages of running a limited company can help you to work out the best way to organise your finances.

If you want advice from an expert who will help you to work out the best way to plan for your future, then our experienced accountants can help. Call today on 01442 275789 or email newbusiness@sjdaccountancy.com.

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