HMRC have released figures that reveal self-employed pension savings have hit record lows across 2019/2020. Since 2012 to 2013, non-eligible employee participation has increased to 34%. However, this has declined for the self-employed to 16%.In 2019/20 self-employed people paid around £830m into their personal pensions. Though, this figure is down from the £1.15bn paid in the previous year.It is thought that due to the COVID-19 pandemic, this figure would have reduced even further … [Read more...]
NEST gets better for members
Even though it has been signposted for years, NEST members should have had a small moment over the weekend when they felt a small seismic shudder, because some new opportunities opened up for them on 1 April.1. They can now transfer benefits into NEST;2. They can transfer their funds out of NEST, and3. There is no cap on the amount of contributions that they can pay in.The first is actually more exciting than billed, because there is no contribution charge on … [Read more...]