Skip to main content

The government is working on new ways to encourage retirement saving among Britain’s 4.8 million self-employed.

New approaches that would allow self-employed people, around 15% of the UK workforce, to save for short, medium and long-term financial goals – for example, catering for those with irregular incomes – will be tested through trials and research to be launched imminently.

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 product
  • Better use of financial technology to help the self-employed overcome barriers to saving
  • Making the most of communication points of contact used by self-employed people – such as online accounting systems – to promote saving for retirement in an easily understood way

Guy Opperman, Minister for Pensions and Financial Inclusion, said, “Only around 1 in 7 (14%) self-employed people were saving into a pension in 2016 to 2017. Our trials are designed to make sure that this diverse group of people gets help to plan ahead for greater financial security and the lifestyle they aspire to in later life.

“We want to see effective, long-lasting solutions that boost the future prospects of millions of hard-working self-employed people, and will work with the financial services sector, professional trade bodies, unions and others to achieve that.”

Still thinking about if you should join Dolan Accountancy?

Give us a call on 01442 795100 or email

Email Jaime

Federation of Small Businesses (FSB) National Chairman Mike Cherry, commented on the launch, “As things stand, thousands of sole traders will struggle to retire at a sensible age because they simply aren’t saving enough. Fewer than one in three self-employed people save into a private pension. That compares to more than three quarters of employees. Unless we get the self-employed saving more, we risk a real financial calamity a few years down the line.

“It’s encouraging to see the Government taking this issue seriously – trialling different ways to address this challenge is the right way forward. Today’s report takes on board FSB’s recommendations for using the self-assessment process as an opportunity to nudge sole traders to put more away for the future. It also stresses the importance of pensions dashboards – another crucial intervention that we’ll continue campaigning for.

“The self-employed hugely value freedom: an auto-enrolment model is not right for them. The key here is behaviour change. We look forward to working with DWP to see how we can get more sole traders thinking about retirement. Saving for the future shouldn’t be an afterthought.”

To find out more about contracting please contact Jaime on 01442 795 100 or email

Why Thousands of Contractors Choose Dolan Accountancy

With over 25 years experience in contractor accountancy helping thousands of contractors, freelancers and the self employed, Dolan Accountancy has the specialist skills, reputation and credibility you can trust.

Working closely with our sister company, Contractor Umbrella, it means we can offer one low cost, fixed fee package at £105 + VAT. This gives you the flexibility of using both our Limited Company Accountancy Services and our award winning Umbrella Service, for one inclusive cost.

If you’d like to find out more about how Dolan Accountancy can help you and your business, please give us a call on 01442 795 100 or email or

We don’t believe in tiered packages or hidden extra fees, instead we aim to give you everything you need, including:

  • Free Company Formation – This is where it all begins. Once you have decided on an available name, we will form your company free of charge (if using our accountancy services) and it will be ready for you to use in as little as three hours
  • Free use of Contractor Umbrella – With IR35 Legislation changes we understand that sometimes you are required to contract via an umbrella company. We will keep your limited company ticking over, while you work margin free via our sister company, Contractor Umbrella
  • A Dedicated Accountant – Your accountant will be there for any company or personal tax advice that you require. We will never outsource work, even to internal teams
  • Free Access to FreeAgent – We offer all of our clients access to FreeAgent, free of charge
  • Free Business Banking – We have decided to waive our commission so our clients can use Tide free of charge for the first year
  • Unlimited IR35 Status Reviews – We will review all of your contracts for IR35 purposes and provide you with our professional opinion as to its status
  • Free Registered and Director’s Service Office Address – Sometimes you just don’t want your home address on display at Companies House. When you sign up to our accountancy services, we will offer the use of our address as an alternative
  • Your Business and Personal Taxation Needs – This includes Company Accounts, Director’s Personal Tax Return, VAT Returns, Payroll, Corporation Tax and Dividend advice, to name just a few

Not Found What You’re Looking For?

Speak to an ExpertLimited or Umbrella?
Take Home Pay Calculator