{"id":18826,"date":"2019-01-10T16:13:08","date_gmt":"2019-01-10T16:13:08","guid":{"rendered":"https:\/\/smh.group\/?p=18826"},"modified":"2023-02-15T13:45:37","modified_gmt":"2023-02-15T13:45:37","slug":"filling-the-pensions-hole-for-the-self-employed","status":"publish","type":"post","link":"https:\/\/devstagesite.co.uk\/smhgroup\/filling-the-pensions-hole-for-the-self-employed\/","title":{"rendered":"Filling the pensions hole for the self-employed"},"content":{"rendered":"

The Department for Work and Pensions (DWP) is aiming to expand pension coverage among the self-employed. <\/strong><\/h3>\n

Pension automatic enrolment<\/span><\/a> has become a major success since it was launched nearly seven years ago, with almost 10 million people joining a workplace pension arrangement. Take-up rates have been much higher than some pundits had forecast \u2013 the latest calculation from the DWP showed that in 2016\/17 the overall opt out rate was just 9%.<\/p>\n

However, there is one group of people that the automatic enrolment regime completely misses: the self-employed. According to the DWP, the self-employed account for about 15% of the UK workforce \u2013 4.7 5 million people. Private pension coverage in this sector is low, despite the tax benefits on offer. The DWP has calculated that in 2016\/17, only about 1 in 7 of the self-employed were saving into a pension.<\/p>\n

Encouraging pension saving<\/strong><\/h3>\n

In December the DWP announced that it would be running a programme of trials aimed at encouraging the self-employed to start saving. These trials will involve a range of trade bodies and financial services organisations, including the main government initiated auto-enrolment scheme, NEST, which now has over seven million members.<\/p>\n

If you are self-employed and one of the 6 in 7 who is not yet saving for your retirement, you should not wait for the DWP to find ways to nudge you into action. The hard fact is that with no private pension provision, your retirement pension will simply be the new state pension \u2013 \u00a3168.60 a week (\u00a38,767 a year) from April. Remember too that the state pension is only payable from state pension age, which is now in the process of rising to 66 by October 2020 and 67 by April 2028.<\/p>\n

If you want a higher pension, and\/or you do not want to wait until the state decides it is time for you to retire, then the sooner you begin to consider your retirement planning<\/span><\/a>, the better. Talk to us about your options now \u2013 these could well include routes other than pure pension arrangements.<\/p>\n

Contact Simon Turner<\/strong> on 0114 266 4432<\/strong> or sturner@smh.group<\/strong><\/span><\/a> for further information.<\/p>\n

The value of your investment can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The Department for Work and Pensions (DWP) is aiming to expand pension coverage among the self-employed.<\/p>\n","protected":false},"author":4,"featured_media":17991,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[16],"tags":[107,212,77,97,24,96],"class_list":["post-18826","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-services","tag-auto-enrolment","tag-dwp","tag-financial-planning","tag-investments","tag-pensions","tag-savings"],"acf":[],"yoast_head":"\nFilling the pensions hole for the self-employed - SMH Group<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Filling the pensions hole for the self-employed - SMH Group\" \/>\n<meta property=\"og:description\" content=\"The Department for Work and Pensions (DWP) is aiming to expand pension coverage among the self-employed.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/devstagesite.co.uk\/smhgroup\/filling-the-pensions-hole-for-the-self-employed\/\" \/>\n<meta property=\"og:site_name\" content=\"SMH Group\" \/>\n<meta property=\"article:published_time\" content=\"2019-01-10T16:13:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-15T13:45:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/devstagesite.co.uk\/smhgroup\/wp-content\/uploads\/2018\/11\/Chartered-Other-FI2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"585\" \/>\n\t<meta property=\"og:image:height\" content=\"250\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Brendan Hall\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Brendan Hall\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/filling-the-pensions-hole-for-the-self-employed\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/filling-the-pensions-hole-for-the-self-employed\/\"},\"author\":{\"name\":\"Brendan Hall\",\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/#\/schema\/person\/637129b7464f960037f1b676f625570e\"},\"headline\":\"Filling the pensions hole for the self-employed\",\"datePublished\":\"2019-01-10T16:13:08+00:00\",\"dateModified\":\"2023-02-15T13:45:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/filling-the-pensions-hole-for-the-self-employed\/\"},\"wordCount\":373,\"image\":{\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/filling-the-pensions-hole-for-the-self-employed\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/devstagesite.co.uk\/smhgroup\/wp-content\/uploads\/2018\/11\/Chartered-Other-FI2.jpg\",\"keywords\":[\"Auto enrolment\",\"DWP\",\"financial planning\",\"investments\",\"Pensions\",\"savings\"],\"articleSection\":[\"SMH Financial Services\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/filling-the-pensions-hole-for-the-self-employed\/\",\"url\":\"https:\/\/devstagesite.co.uk\/smhgroup\/filling-the-pensions-hole-for-the-self-employed\/\",\"name\":\"Filling the pensions hole for the self-employed - SMH Group\",\"isPartOf\":{\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/filling-the-pensions-hole-for-the-self-employed\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/filling-the-pensions-hole-for-the-self-employed\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/devstagesite.co.uk\/smhgroup\/wp-content\/uploads\/2018\/11\/Chartered-Other-FI2.jpg\",\"datePublished\":\"2019-01-10T16:13:08+00:00\",\"dateModified\":\"2023-02-15T13:45:37+00:00\",\"author\":{\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/#\/schema\/person\/637129b7464f960037f1b676f625570e\"},\"breadcrumb\":{\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/filling-the-pensions-hole-for-the-self-employed\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/devstagesite.co.uk\/smhgroup\/filling-the-pensions-hole-for-the-self-employed\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/filling-the-pensions-hole-for-the-self-employed\/#primaryimage\",\"url\":\"https:\/\/devstagesite.co.uk\/smhgroup\/wp-content\/uploads\/2018\/11\/Chartered-Other-FI2.jpg\",\"contentUrl\":\"https:\/\/devstagesite.co.uk\/smhgroup\/wp-content\/uploads\/2018\/11\/Chartered-Other-FI2.jpg\",\"width\":585,\"height\":250,\"caption\":\"Chartered\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/filling-the-pensions-hole-for-the-self-employed\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/devstagesite.co.uk\/smhgroup\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Filling the pensions hole for the self-employed\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/#website\",\"url\":\"https:\/\/devstagesite.co.uk\/smhgroup\/\",\"name\":\"SMH Group\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/devstagesite.co.uk\/smhgroup\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/#\/schema\/person\/637129b7464f960037f1b676f625570e\",\"name\":\"Brendan Hall\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/fe3e3bb96786e02b14d97d1c006fde60e4080a2841fd919bafa62c4cc1c65688?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/fe3e3bb96786e02b14d97d1c006fde60e4080a2841fd919bafa62c4cc1c65688?s=96&d=mm&r=g\",\"caption\":\"Brendan Hall\"},\"url\":\"https:\/\/devstagesite.co.uk\/smhgroup\/author\/brendan-hall\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Filling the pensions hole for the self-employed - SMH Group","robots":{"index":"noindex","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"og_locale":"en_GB","og_type":"article","og_title":"Filling the pensions hole for the self-employed - SMH Group","og_description":"The Department for Work and Pensions (DWP) is aiming to expand pension coverage among the self-employed.","og_url":"https:\/\/devstagesite.co.uk\/smhgroup\/filling-the-pensions-hole-for-the-self-employed\/","og_site_name":"SMH Group","article_published_time":"2019-01-10T16:13:08+00:00","article_modified_time":"2023-02-15T13:45:37+00:00","og_image":[{"width":585,"height":250,"url":"https:\/\/devstagesite.co.uk\/smhgroup\/wp-content\/uploads\/2018\/11\/Chartered-Other-FI2.jpg","type":"image\/jpeg"}],"author":"Brendan Hall","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Brendan Hall","Estimated reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/devstagesite.co.uk\/smhgroup\/filling-the-pensions-hole-for-the-self-employed\/#article","isPartOf":{"@id":"https:\/\/devstagesite.co.uk\/smhgroup\/filling-the-pensions-hole-for-the-self-employed\/"},"author":{"name":"Brendan Hall","@id":"https:\/\/devstagesite.co.uk\/smhgroup\/#\/schema\/person\/637129b7464f960037f1b676f625570e"},"headline":"Filling the pensions hole for the self-employed","datePublished":"2019-01-10T16:13:08+00:00","dateModified":"2023-02-15T13:45:37+00:00","mainEntityOfPage":{"@id":"https:\/\/devstagesite.co.uk\/smhgroup\/filling-the-pensions-hole-for-the-self-employed\/"},"wordCount":373,"image":{"@id":"https:\/\/devstagesite.co.uk\/smhgroup\/filling-the-pensions-hole-for-the-self-employed\/#primaryimage"},"thumbnailUrl":"https:\/\/devstagesite.co.uk\/smhgroup\/wp-content\/uploads\/2018\/11\/Chartered-Other-FI2.jpg","keywords":["Auto enrolment","DWP","financial planning","investments","Pensions","savings"],"articleSection":["SMH Financial Services"],"inLanguage":"en-GB"},{"@type":"WebPage","@id":"https:\/\/devstagesite.co.uk\/smhgroup\/filling-the-pensions-hole-for-the-self-employed\/","url":"https:\/\/devstagesite.co.uk\/smhgroup\/filling-the-pensions-hole-for-the-self-employed\/","name":"Filling the pensions hole for the self-employed - SMH Group","isPartOf":{"@id":"https:\/\/devstagesite.co.uk\/smhgroup\/#website"},"primaryImageOfPage":{"@id":"https:\/\/devstagesite.co.uk\/smhgroup\/filling-the-pensions-hole-for-the-self-employed\/#primaryimage"},"image":{"@id":"https:\/\/devstagesite.co.uk\/smhgroup\/filling-the-pensions-hole-for-the-self-employed\/#primaryimage"},"thumbnailUrl":"https:\/\/devstagesite.co.uk\/smhgroup\/wp-content\/uploads\/2018\/11\/Chartered-Other-FI2.jpg","datePublished":"2019-01-10T16:13:08+00:00","dateModified":"2023-02-15T13:45:37+00:00","author":{"@id":"https:\/\/devstagesite.co.uk\/smhgroup\/#\/schema\/person\/637129b7464f960037f1b676f625570e"},"breadcrumb":{"@id":"https:\/\/devstagesite.co.uk\/smhgroup\/filling-the-pensions-hole-for-the-self-employed\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/devstagesite.co.uk\/smhgroup\/filling-the-pensions-hole-for-the-self-employed\/"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/devstagesite.co.uk\/smhgroup\/filling-the-pensions-hole-for-the-self-employed\/#primaryimage","url":"https:\/\/devstagesite.co.uk\/smhgroup\/wp-content\/uploads\/2018\/11\/Chartered-Other-FI2.jpg","contentUrl":"https:\/\/devstagesite.co.uk\/smhgroup\/wp-content\/uploads\/2018\/11\/Chartered-Other-FI2.jpg","width":585,"height":250,"caption":"Chartered"},{"@type":"BreadcrumbList","@id":"https:\/\/devstagesite.co.uk\/smhgroup\/filling-the-pensions-hole-for-the-self-employed\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/devstagesite.co.uk\/smhgroup\/"},{"@type":"ListItem","position":2,"name":"Filling the pensions hole for the self-employed"}]},{"@type":"WebSite","@id":"https:\/\/devstagesite.co.uk\/smhgroup\/#website","url":"https:\/\/devstagesite.co.uk\/smhgroup\/","name":"SMH Group","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/devstagesite.co.uk\/smhgroup\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/devstagesite.co.uk\/smhgroup\/#\/schema\/person\/637129b7464f960037f1b676f625570e","name":"Brendan Hall","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/devstagesite.co.uk\/smhgroup\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/fe3e3bb96786e02b14d97d1c006fde60e4080a2841fd919bafa62c4cc1c65688?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/fe3e3bb96786e02b14d97d1c006fde60e4080a2841fd919bafa62c4cc1c65688?s=96&d=mm&r=g","caption":"Brendan Hall"},"url":"https:\/\/devstagesite.co.uk\/smhgroup\/author\/brendan-hall\/"}]}},"_links":{"self":[{"href":"https:\/\/devstagesite.co.uk\/smhgroup\/wp-json\/wp\/v2\/posts\/18826","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/devstagesite.co.uk\/smhgroup\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/devstagesite.co.uk\/smhgroup\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/devstagesite.co.uk\/smhgroup\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/devstagesite.co.uk\/smhgroup\/wp-json\/wp\/v2\/comments?post=18826"}],"version-history":[{"count":1,"href":"https:\/\/devstagesite.co.uk\/smhgroup\/wp-json\/wp\/v2\/posts\/18826\/revisions"}],"predecessor-version":[{"id":24222,"href":"https:\/\/devstagesite.co.uk\/smhgroup\/wp-json\/wp\/v2\/posts\/18826\/revisions\/24222"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/devstagesite.co.uk\/smhgroup\/wp-json\/wp\/v2\/media\/17991"}],"wp:attachment":[{"href":"https:\/\/devstagesite.co.uk\/smhgroup\/wp-json\/wp\/v2\/media?parent=18826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/devstagesite.co.uk\/smhgroup\/wp-json\/wp\/v2\/categories?post=18826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/devstagesite.co.uk\/smhgroup\/wp-json\/wp\/v2\/tags?post=18826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}