{"id":27247,"date":"2024-12-02T11:17:54","date_gmt":"2024-12-02T11:17:54","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/tomd\/2024\/12\/02\/self-employed-remember-your-pension\/"},"modified":"2024-12-05T09:14:25","modified_gmt":"2024-12-05T09:14:25","slug":"self-employed-remember-your-pension","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/tomd\/2024\/12\/02\/self-employed-remember-your-pension\/","title":{"rendered":"Self-employed? Remember your pension"},"content":{"rendered":"<div class=\"hd-block hd-block-paragraph\">\n<p><strong>Over one million individuals have entered self-employment since 2020<\/strong><strong><sup>1<\/sup><\/strong><strong>, so it is important to ensure you are still planning for retirement by making regular pension contributions.<\/strong>&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>A growing sector<\/strong>&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>In 2023, there were 4.2 million people in the UK\u2019s solo self-employed sector \u2013 3% higher than the previous year. Overall, the solo self-employed contributed \u00a3331bn to the UK economy, up from \u00a3278bn in 2022. But, concerningly, 45% of freelancers are not saving into a pension<sup>2<\/sup>.&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>Make it a priority<\/strong>&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>We know it can be easy to forget about your pension, seeing as employed people are auto-enrolled into a pension scheme by their workplace, but if you are freelance it is your responsibility.&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>The sooner you start saving for retirement, the more you can grow your investment and benefit from tax relief on contributions (within limits). Putting it off only means that you will need to save more in a shorter amount of time if you want a comfortable retirement.&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>Contribute regularly<\/strong>&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>Decide on a minimum monthly contribution that feels manageable for you. Your income may fluctuate from month to month \u2013 that\u2019s why you can put more money into your pot when you\u2019re doing well.&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>Seek advice<\/strong>&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>One benefit of being self-employed is that you have more freedom when it comes to choosing your pension. We can help you plan ahead.&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><sup>1<\/sup>IPSE, 2024&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><sup>2<\/sup>IPSE, 2023&nbsp;<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated.<\/strong>&nbsp;<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Over one million individuals have entered self-employment since 20201, so it is important to ensure you are still planning for retirement by making regular pension contributions.&nbsp; A growing sector&nbsp; In 2023, there were 4.2 million people in the UK\u2019s solo self-employed sector \u2013 3% higher than the previous year. Overall, the solo self-employed contributed \u00a3331bn [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":27275,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[89,88],"tags":[],"hd_content_source":[116],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/27247"}],"collection":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/comments?post=27247"}],"version-history":[{"count":4,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/27247\/revisions"}],"predecessor-version":[{"id":27343,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/27247\/revisions\/27343"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media\/27275"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media?parent=27247"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/categories?post=27247"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/tags?post=27247"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/hd_content_source?post=27247"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}