Self-employed are 'feeling the pension pinch'

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Self-employed are 'feeling the pension pinch'

Thu 24th Nov 2011

Self-employed individuals across the UK could be putting their retirement finances in jeopardy by failing to invest heavily enough for the future, it has been revealed.

Dr Dianne Bown-Wilson, small business advisor and age management specialist at in my prime, said the challenging economic environment is making it difficult for this group to adequately put money aside for their retirement.

She commented: "Certainly the financial pressures on many small business owners recently has made it harder than ever for them to make or continue to make adequate pension payments."

Furthermore, Ms Bown-Wilson noted there is a growing proportion of self-employed people who have no pension plans in place at all.

The news follows comments by Martin Bamford, managing director and chartered financial Planner at Informed Choice, who claimed individuals need to take the time to get their pension savings in order if they wish to have a comfortable retirement in the years to come.

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