Self-Employed pension shortfall
The average employee gets £91,512 in employer contributions to their pension scheme during their working life, according to research by Prudential cited by the Daily Mail.
Self-employed people don’t get such contributions (though overall they do pay less National Insurance) and need to make up for the lack of them by saving more.
Though many self-employed (and employed) people say they can’t afford to save, most people find that once they’ve been saving for a few months, they no longer miss the cash they are saving. The gain is worth the pain!
If you are self-employed and would like to look at ways in which to save tax and save call us on 0116 380 0133.
Steve Clark