NEST, the government-backed pension provider is trialling emotive messages with the aim of persuading the self-employed to save for their retirement.
Four messages are being tested in order to encourage savings behaviour in the self-employed and so that they sign up for pensions through payment or accountancy platforms or trade and industry bodies.
One message focuses on the affordability of contributions when viewed on a daily, rather than monthly, basis: ‘Could you save £2.50 a day?'
And, ‘Flexible pension options for the self-employed', emphasises that they can pay what they can, when they can.
Other messages highlight loss-avoidance such as: ‘A tax-free way to save for retirement' and ‘Don't miss out on pension returns'.
In its own survey, NEST found that, of the 2,000 self-employed people polled, 24% currently save into a pension with 74% recognising the importance of doing so.
More than three quarters (76%) had some form of savings or investment, and 68% are using these to save for the long-term.
The report said:
"This points to a conceptual difference in the way self-employed people regard pensions and retirement compared to employed people.
"They tend to save for the long-term rather than a specific age or period of life, and use a wide range of savings vehicles including savings accounts, ISAs and property, as well as pensions".
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