New research from PensionBee, a leader in the consumer retirement market, reveals that there is overwhelming support for self-employed and gig workers to be automatically signed up to a pension, aligning pension contributions with the annual self-assessment tax return.
A nationally representative survey of 1,000 UK adults found that 66% of respondents believe the self-employed and gig workers should be automatically signed up to a pension through their tax returns, showing broad consensus across all demographics.
PensionBee’s research also found that 24% of respondents saw the expansion of Auto-Enrolment to invisible workers as a priority that they would like to see implemented in the upcoming budget.
Support is particularly strong among both the young and the financially advantaged. 78% of 25-34 year olds support workers in non-traditional forms of work being included under a wider scope of Auto-Enrolment, perhaps due to this demographic being more likely to work in these roles themselves.
Also intriguing was the significantly stronger support from higher earners, with 83% of those earning at least £100,000 a year in favour, compared to just under half of those earning less than £15,000.
Public opinion could not be clearer: the pensions system will not be fit for purpose until invisible workers are automatically included.
If the government is serious about tackling pensioner poverty and setting a course towards adequacy, it must ensure every worker has a fair chance to save for retirement.
Lisa Picardo, Chief Business Officer UK at PensionBee, commented: “Auto-Enrolment has transformed the savings habits of millions of employees, but too many people are still shut out of the system simply because they work for themselves or earn their income in non-traditional ways.
This research shows the public is firmly behind reform. Expanding Auto-Enrolment to include self employed and gig workers would be one of the most powerful steps the government could take to close persistent gaps and set the UK on a credible path to pension adequacy for everyone.
Invisible workers cannot remain invisible in retirement policy any longer.”
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