PensionBee calls for Government action amid Pensions Commission relaunch

PensionBee has called for Government action to help millions facing a pension crisis, as the Pensions Commission is relaunched. 

The commission will look at why future retirees may be worse off than today’s and is due to make recommendations by 2027. 

PensionBee said current rules still leave many workers out of automatic enrolment, making it hard for them to save for retirement.

PensionBee research found 60% of self-employed and freelance workers could not afford to pay into a pension. 

Among gig workers, 70% supported a system where every worker is included, whatever their job or pay.

PensionBee is asking the Government to make it easy for self-employed people to opt in, by letting them pay into a pension automatically through their tax returns. 

The firm also called for a portable pension that moves with workers between jobs, clear rules on how long pension transfers should take, a focus on saving enough for a decent retirement, and more support for those in insecure work.

Lisa Picardo (pictured), chief business officer UK at PensionBee, said: “Whilst Auto-Enrolment has been transformative for employees, the promise of a secure retirement remains a dream for millions of people simply because they don’t fit into the traditional employment model.