A national advice firm is urging the Government to extend the advice allowance for pensions to those who are self-employed.
LEBC draws attention to the current inequality between employees and the self-employed, with the former able to claim up to £500 over three separate tax years to cover the cost of pensions advice.
As this amount is not available to those who self-employed, they are left to fund the cost themselves.
Following pension minister, Guy Opperman’s request for suggestions on how the self-employed could be better assisted, LEBC have written him an open letter.
Chief Executive of the firm, Jack McVitie highlighted the importance of fair treatment for workers, particularly in relation to later life planning. He said: “Lack of financial security is a key concern of many self-employed, around retirement planning, making provision for ill health and protecting dependents on death.”
