DWP: Trials to boost pensions for self-employed to be launched 'imminently'

Encouraging better use of tech

Kim Kaveh
clock • 2 min read

The Department for Work and Pensions (DWP) will develop and test new ways to include 4.8 million self-employed workers in pension savings.

Under plans unveiled today (18 December), the new approaches will allow the self-employed - who make up around 15% of the UK's working population - to save for short-, medium- and long-term financial goals "imminently". According to the DWP, this will include catering for those with irregular incomes. Features of the trials include: encouraging employees who become self-employed to keep making regular, affordable contributions to a pension or other long-term savings products; and better use of financial technology to help the self-employed overcome barriers to saving. It will also use...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Pension freedoms and lessons from Down Under

Pension freedoms and lessons from Down Under

How the UK can build a more 'robust and supportive' system

Verona Kenny
clock 09 April 2025 • 4 min read
UK workers regret not learning about pensions sooner

UK workers regret not learning about pensions sooner

Over half admit to feeling out of their depth, research finds

Isabel Baxter
clock 08 April 2025 • 2 min read
Why is it so difficult to switch a pension? Navigating the transfer maze

Why is it so difficult to switch a pension? Navigating the transfer maze

‘If I didn’t work in pensions, I might have simply given up on many occasions

Lisa Picardo
clock 08 April 2025 • 4 min read