Over 1.5 Million UK Gig Workers Unable to Afford Pension Savings

New research from PensionBee reveals that over half of UK gig economy workers, including freelancers, unpaid carers, and those on zero-hours contracts, cannot afford to save into a pension, with 57% citing affordability as the primary barrier. Additionally, many workers find pensions complicated or do not know where to start saving, with nearly one in three expressing confusion about pension enrollment. The findings highlight a systemic mismatch between modern work patterns and the current pension system, leaving millions feeling excluded or unsupported. In response, there are urgent calls for a universal pension system that would automatically include every worker regardless of income or employment status, a proposal backed by nearly 70% of respondents. PensionBee emphasizes the need for reforms focusing on simplicity, affordability, and inclusivity to prevent gig workers from facing poor retirement outcomes reliant on the State Pension. The research underscores a broader public desire for pension reform to better reflect the realities of the evolving workforce.