A new all-in-one pension solution for self-employed workers has been launched in the UK, helping self-employed workers save for their retirements.
There are millions of self-employed people and freelancers across the UK, with some having had dozens of different employments and contracts over the years. It can be tricky for individuals to stay on top of where their pensions are sitting and whether they're making the most of the government's contributions to their pension pot.
A new pension solution specifically aimed at the self-employed in the UK and Northern Ireland launched this week. Raindrop (www.myraindrop.co.uk) is a digital pension platformdeveloped by London-based entrepreneurs Marco Ross, Phil Fortio, Raul Tudor and Vivan Shridharani to fill a gap they saw in the market for pension solutions for the self-employed.
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Recent statistics from the UK government's Nest pension scheme show that over 80% of self-employed workers have no pension at all. Many of those people said that they would like the option to automatically put some money aside for retirement, but most are not making use of pension schemes that the government will top up.
The platform uses an AI chatbot service that can help people find old pensions from previous employments that people may have missed or forgotten about, and can put all of the plans in one place. It also allows customers to consolidate their pensions into a single pot, and provides some investment options.
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Raindrop Chief Executive, Marco Ross, commented: "Self-employed workers have long been forgotten when it comes to the current and complex pensions landscape. We know that there are many barriers for people in saving for their future and few solutions that solve them, until now. We also know from recent research that the pandemic has had a big impact on the ability of self-employed people to save and they want to do so flexibly."
