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968410

	registered interest
	date	05/09/2018
	answering body	Department for Work and Pensions
	answering dept id	29
	answering dept short name	Work and Pensions
	answering dept sort name	Work and Pensions
	hansard heading	Self-employed: Pensions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Work and Pensions, whether she has made an assessment of trends in the level of self-employed people participating in a private pension scheme.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	170737
	answer	answer is ministerial correction date of answer 11/09/2018 answer text <p>As part of its review of automatic enrolment, published in December 2017, the Government looked at the position of the self-employed and private pension saving. The review established that the 4.8 million people who are self-employed in the UK are a hugely varied population with different income and savings needs for their retirement. Overall, participation rates for the self-employed have been on the decline in recent years, falling from 31 per cent in 2006/7 to 14 per cent in 2016/17. While pension participation rates have fallen for the self-employed, analysis has shown that the self-employed have, on average, broadly comparable levels of total assets to employees’ (PPI report on policies for increasing long-term saving of the self-employed). However, analysis has shown the distribution of assets to be different for employees compared to the self-employed – employees tend to have a higher level of private pension wealth compared to the self-employed and the self-employed tend to have higher levels of property wealth relative to employees.</p><p> </p><p>The review found that there is currently no single or simple and straightforward mechanism to bring self-employed people into workplace pension saving. Nor is there any consensus or evidence about the best approach to increasing pension saving among this group.</p><p> </p><p>We are committed to work towards implementing our manifesto commitment to improve retirement savings among the self-employed by testing targeted interventions to understand what works in practice. We will provide more information about the trial areas later this year, following our feasibility work.</p><p> </p> answering member constituency Hexham answering member printed Guy Opperman grouped question UIN 170738 question first answered 11/09/2018 16:15:25 answering member 4142 label Biography information for Guy Opperman
	tabling member	1586 label Biography information for Adam Afriyie

968412

	registered interest
	date	05/09/2018
	answering body	Department for Work and Pensions
	answering dept id	29
	answering dept short name	Work and Pensions
	answering dept sort name	Work and Pensions
	hansard heading	Self-employed: Pensions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Work and Pensions, what recent steps her Department has taken to encourage self-employed individuals to participate in a private pension scheme.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	170738
	answer	answer is ministerial correction date of answer 11/09/2018 answer text <p>As part of its review of automatic enrolment, published in December 2017, the Government looked at the position of the self-employed and private pension saving. The review established that the 4.8 million people who are self-employed in the UK are a hugely varied population with different income and savings needs for their retirement. Overall, participation rates for the self-employed have been on the decline in recent years, falling from 31 per cent in 2006/7 to 14 per cent in 2016/17. While pension participation rates have fallen for the self-employed, analysis has shown that the self-employed have, on average, broadly comparable levels of total assets to employees’ (PPI report on policies for increasing long-term saving of the self-employed). However, analysis has shown the distribution of assets to be different for employees compared to the self-employed – employees tend to have a higher level of private pension wealth compared to the self-employed and the self-employed tend to have higher levels of property wealth relative to employees.</p><p> </p><p>The review found that there is currently no single or simple and straightforward mechanism to bring self-employed people into workplace pension saving. Nor is there any consensus or evidence about the best approach to increasing pension saving among this group.</p><p> </p><p>We are committed to work towards implementing our manifesto commitment to improve retirement savings among the self-employed by testing targeted interventions to understand what works in practice. We will provide more information about the trial areas later this year, following our feasibility work.</p><p> </p> answering member constituency Hexham answering member printed Guy Opperman grouped question UIN 170737 question first answered 11/09/2018 16:15:25 answering member 4142 label Biography information for Guy Opperman
	tabling member	1586 label Biography information for Adam Afriyie

837337

	registered interest
	date	05/02/2018
	answering body	Department for Work and Pensions
	answering dept id	29
	answering dept short name	Work and Pensions
	answering dept sort name	Work and Pensions
	hansard heading	Self-employed: Pensions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Work and Pensions, what assessment her Department has made of the potential merits of compelling self-employed people to contribute to a private pension.
	tabling member constituency	Bury North
	tabling member printed	James Frith
	uin	126456
	answer	answer is ministerial correction date of answer 09/02/2018 answer text <p>The Department’s review of automatic enrolment (AE), <em>Maintaining the Momentum,</em> published in December 2017 sets out the Government’s position in regard to the self-employed and retirement saving. The review report can be viewed at: <a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/668971/automatic-enrolment-review-2017-maintaining-the-momentum.PDF" target="_blank">https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/668971/automatic-enrolment-review-2017-maintaining-the-momentum.PDF</a></p><p> </p><p>The self-employed represent a highly diverse group of around 15% of the workforce amongst whom pension coverage varies significantly. Our review recognised that a significant proportion of the 4.8m self-employed individuals in the UK have good levels of saving and preparation for later life – but many groups are under saving, or at risk of under saving for retirement</p><p> </p><p>Compulsion would be an indiscriminate way of tackling this challenge. It would also fail to maximise behavioural learning from automatic enrolment, or recognise personal choice.</p><p>As the AE review sets out, our approach is based on applying learning from the principles and the successful roll-out of automatic enrolment to appropriately target interventions and understand what works. During this year, we have committed to test targeted interventions, following feasibility work – before setting out proposals to implement workable solutions at scale.</p> answering member constituency Hexham answering member printed Guy Opperman question first answered 09/02/2018 14:42:47 answering member 4142 label Biography information for Guy Opperman
	tabling member	4637 label Biography information for James Frith

669124

	registered interest
	date	06/01/2017
	answering body	Department for Work and Pensions
	answering dept id	29
	answering dept short name	Work and Pensions
	answering dept sort name	Work and Pensions
	hansard heading	Self-employed: Pensions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Work and Pensions, what steps the Government is taking to improve access to pensions for self-employed people.
	tabling member constituency	Bolton North East
	tabling member printed	Sir David Crausby
	uin	58733
	answer	answer is ministerial correction date of answer 11/01/2017 answer text <p>I refer the Honourable Gentleman to the written answer I provided to the member for Glasgow East on 21 November 2016 to PQ53995.</p><p> </p><p>Further to this, I announced the scope of the 2017 Review of automatic enrolment in a Ministerial Statement to the House on 12 December 2016. Among other matters, this review will consider how the growing group of self-employed people can be helped to save for their retirement.</p> answering member constituency Watford answering member printed Richard Harrington question first answered 11/01/2017 17:04:29 answering member 4068 label Biography information for Lord Harrington of Watford
	tabling member	437 label Biography information for Sir David Crausby