23 Mar 2020
Our Senior Programme Manager for Fulfilling Work says that self-employment can offer older workers more flexibility and choice. However, it can also be the only option when people face ageism or a lack of progression as the grow older.
“Older workers are the fastest growing part of the workforce, and this is also true of those in self-employment. With a rising state pension age and more of us needing to work for longer to support our longer lives, self-employment can offer opportunities for flexible, fulfilling and rewarding work.
“While many people choose self-employment as a way of offering more flexibility and choice, others might be turning to self-employment due to barriers in the job market like ageism or a lack of opportunities for progression.
“While self-employment can be a great option for many people in the later part of their working lives, particularly because of the flexibility it offers, self-employed people risk missing out on some of the key benefits of working for an employer, such as employer pension contributions, support for a health condition or carers leave. Official statistics show that 45% of self-employed people aged 35 to 54 have no private pension wealth. It is crucial then that people in this position plan and prepare for how their circumstances might change in later life.”