Being self-employed means that you cannot join occupational pension schemes, although you will receive the basic state pension and the Flat Rate State Pension, which came into effect on 6 April 2016 subject to a sufficient National Insurance record.
It is therefore essential that you make plans for contributing to an individual arrangement. This will help you to receive an income that gives you security in your retirement.
How much will you need?
Our retirement planning calculator is designed to provide an indication of the monthly savings needed to fund the gap in your required income at retirement, and your expected income from existing funds.
Expert advice, which focuses on your requirements, is vitally important and will be the cornerstone of your pension planning arrangements. Because of this, the St. James's Place Approach to Retirement Planning is founded on four key principles:
The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you initially invested.