25/06/2026
Recently, we mentioned the proposed Lifetime ISA changes, but there’s one part of this that hasn't received as much attention as it deserves.
For many self-employed people, the Lifetime ISA became a simple, accessible way to save for retirement. The 25% government bonus felt tangible, easy to understand, and rewarding.
The challenge is that self-employed people don't benefit from workplace pension auto-enrolment. So, while around 90% of employed workers are now saving into a workplace pension, there is no equivalent system for the self-employed. The average self-employed worker consequently has significantly lower retirement savings than someone in employment.
Whether the Lifetime ISA remains part of your retirement strategy or not, the bigger question is: Do you have a plan?
Retirement planning doesn't have to mean putting away the same amount every month. For many business owners and freelancers, a flexible approach that works around fluctuating income can often be more realistic.
The important thing is getting started, because when you're self-employed, there isn't an employer quietly building your pension in the background. We can help.
This post is for information only and does not constitute advice. The value of your investments can go down as well as up, so you could get back less than you invested. A pension is a long-term investment not normally accessible until age 55 (57 from April 2028 unless the plan has a protected pension age). The value of your investments (and any income from them) can go down as well as up which would have an impact on the level of pension benefits available.
