No workplace pension? Let’s change that
Not having access to a workplace pension scheme can leave a big gap in your retirement planning. But whether you're self-employed, changing jobs, or just never opted in, there are still powerful ways to build a pension pot. We’ll help you understand your options and how to get started.
The value of investments can fall as well as rise and you may not get back the amount originally invested.
Concerned about missing out on workplace pensions?
What if I don’t have a workplace pension at all?
Many people in non-traditional employment or early careers aren’t enrolled in workplace pensions. But there are still ways to contribute toward your future retirement.
Am I missing out on free money from my employer?
Without a workplace scheme, you don’t benefit from employer contributions—but you may still access government tax relief through personal pensions.
Is it worth starting a pension now?
Yes. Starting early—even without employer help—can grow into a solid retirement fund thanks to compounding and tax perks.
If you’re not part of a workplace pension, you’re not alone—but it’s important to take action. Many self-employed individuals, contractors, or those working for smaller companies may not have automatic access to a pension scheme. That doesn’t mean you can’t still enjoy the benefits of long-term saving.
A personal pension, such as a stakeholder pension or a self-invested personal pension (SIPP), allows you to make regular contributions and receive tax relief from the government. That means for every £80 you contribute, the government tops it up to £100. It’s one of the most tax-efficient ways to save for retirement.
The earlier you start, the more you can benefit from compounding growth. Even small monthly amounts can build over time. We’ll help you understand how much to save based on your future goals, how to select the right provider, and how your money should be invested depending on your appetite for risk.
If you’re self-employed, it’s also important to remember that retirement planning isn’t just about saving—it’s about protecting your income, managing your expenses, and having a plan for when you slow down. Building your own retirement strategy now means fewer worries in the future.
Whether you’re starting from scratch or just unsure where to begin, we’ll guide you through every step so you don’t miss out on building a secure financial future.
Support When You’re Building Alone
Even if you’re not part of a workplace scheme, you don’t have to navigate pensions alone. Patrick Wayne Wealth is here to provide clear, personal guidance. We’ll help you build the right plan from the ground up—on your terms, at your pace.
Do I really need a pension if I’m self-employed?
Yes. Without employer contributions, it’s entirely up to you to fund your retirement. A pension offers tax relief and long-term growth, making it far more efficient than regular savings accounts.
What type of pension should I set up?
Personal pensions, stakeholder pensions, and SIPPs are common choices. SIPPs offer more control, but they can be more complex. We’ll help you choose based on your confidence and goals.
How much should I contribute to a personal pension?
A good rule of thumb is to contribute a percentage of your income equivalent to half your age when you start—so if you begin at 40, aim for 20% of your income. But anything is better than nothing, and we can help tailor this to your budget.
What if my income varies each month?
You can still make flexible contributions to most personal pensions, choosing to pay monthly, yearly, or whenever you have surplus income. The key is to remain consistent over the long term.
Step 1.
Speak to an adviser
Let’s talk about your goals, concerns, and what you can afford to save — no jargon, no pressure.
Step 2.
Understand your options.
We’ll explain the differences between personal pensions, SIPPs, and other flexible options suited for self-employed or non-traditional workers
Step 3.
Choose and set up your plan
We’ll handle the setup and ensure you start benefiting from tax relief and long-term investment growth straight away.
Step 4.
Stay on track.
We’ll review your pension regularly to help you adapt as your income, lifestyle, or retirement plans change.
The value of investments can fall as well as rise and you may not get back the amount originally invested.