Question to the HM Treasury:

To ask Her Majesty’s Government what steps they are taking to increase private pension saving by the self-employed.

The 2005 Turner Commission recommended that the self-employed should be able to join a pension in an easy and cost-effective fashion. Therefore the Government-backed pension provider, the National Employment Savings Trust (NEST) offers low-charge pension schemes to the self-employed, as well as to all employers.

Automatic enrolment has been a huge success to date with almost 6 million eligible workers people now enrolled. We will be reviewing automatic enrolment in 2017. We are keen to identify issues that should be addressed within the review and will be working with stakeholders to determine its scope.

The Government also recognises that the self-employed might benefit from saving in different ways to employees. In 2011 the Government introduced carry forward of annual allowances, which allow individuals with irregular earnings to use any unused Annual Allowance from the previous three years to contribute more to their pension in particular years, if this suits them better than making more regular pension contributions.