Many freelancers plan for early retirement

Posted 17th January 2018 in For Businesses For Workers

Four in ten freelancers are hoping to retire before they turn 61, according to new research.

A study by Qdos found six per cent of self-employed workers want to stop working between 41 and 50 years-old, so it could be pension provision for freelancers may be more relevant than sick pay.

In contrast, 48 per cent plan to retire between the age of 61 and 70, with ten per cent not expecting to stop work until they are older than 71.

“That almost half of independent workers hope to retire close to the UK retirement age suggests that freelancing and contracting is a sustainable career choice,” said Seb Maley, chief executive of Qdos, which commissioned the findings.

He added: “Despite the clear challenges of working without an employer’s pension contribution, freelancers can in many cases command day rates to stop working at a similar age to the average UK employee.”

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