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Centre for Policy on Ageing | |
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Ready for retirement?
— Pensions and Bangladeshi self-employment | | Author(s) | Phil Mawhinney |
| Corporate Author | Runnymede Trust |
| Publisher | Runnymede Trust, London, October 2010 |
| Pages | 29 pp (Runnymede financial inclusion report) |
| Source | The Runnymede Trust, 7 Plough Yard, Shoreditch, London EC2A 3LP. E-Mail: info@runnymedetrust.org Website: www.runnymedetrust.org |
| Keywords | Asian people ; Bangladesh ; Self employed ; Pensions ; Savings ; Preparation [retirement]. |
| Annotation | Many Black and minority ethnic (BME) people in the UK are in low income self-employment. They face challenges to saving and contributing to a decent pension and enjoying a retirement free from poverty. This report looks at the relationship between BME self-employment and pensions. It examines the level and type of pension provision people have and the barriers they they face in light of reforms in the Pensions Acts 2007 and 2008. These reforms have been in response to an ageing population, lower annuities offered by company pension schemes, and the fact that people are less likely to prioritise personal savings than in the past. Automatic enrolment of employees into workplace pension schemes and changes to the state pension age (SPA) are central features of these reforms. Key issues are illustrated with examples from Runnymede's research among Bangladeshi and other BME communities, as well as from official sources published by the Department for Work and Pensions (DWP) and the Office for National Statistics (ONS). This publication is part of the Runnymede Financial Inclusion Programme and funded by the Nationwide Foundation. (RH). |
| Accession Number | CPA-101006001 E |
| Classmark | TKK: 7FD: TFP: JJ: JDD: GA |
Data © Centre for Policy on Ageing |
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| ...from the Ageinfo database published by Centre for Policy on Ageing. |
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