Self-employed lacking retirement funds

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Many self-employed UK workers are failing to provide enough funds for a decent pension, a leading UK pensions organisation has said.

The Pensions Advisory Service (TPAS), an independent voluntary organisation supported by the Department for Work and Pensions, says that there is a lack of pensions provision for the self-employed and for small business owners.

Technical manager Tony Attubato said that there was a general "confusion" over the pensions policies available to UK workers - although he did say that the UK's workforce was beginning to realise that it had to take "greater responsibility" for its future.

"The self-employed are one of the more significant groups that are under-providing for retirement," Mr Attubato commented, before going on to add that there is "still confusion out there about the options and what's available".

"More and more people are recognising how important pension provision is," he continued.

"I think people are beginning to accept they need to take more responsibility in providing for or saving towards their retirement."

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