Three quarters of the British self-employed workforce have no pension, according to new figures.
The survey, from Drewberry, also suggests that of those who do have a pension, more than half have no idea how much is in it.
The survey also paints a bleak picture for the general finances of the UK’s self-employed. More than 60 per cent described their financial situation as ‘just about managing’ or worse.
Meanwhile some 71 per cent of the self-employed are likely to have less than £200 disposable income each month, compared with just 35 per cent of full-time employees.
The Drewberry survey also suggests that amongst the self-employed who know how much they are contributing to a personal pension, 91 per cent contribute 10 per cent or less of their take-home pay, suggesting that times could be hard once they reach retirement.
Insurance, meanwhile, is also a concern. Only one in 100 self-employed respondents said they had income protection cover - sometimes known as business interruption insurance, despite almost half having less than £1,000 in savings.
Meanwhile, just a quarter of the UK’s self-employed have life insurance.
The situation appears to have been exacerbated by the rise of the so-called ‘gig economy’. Commenting on the findings, Drewberry director Tom Conner said: “This year’s results highlight the pressures that are being exerted by the ongoing ‘Uberisation’ we’re seeing in the UK’s employment market.
“Last year our survey clearly identified that the growth of the ‘gig economy’ meant that Britain’s self-employed were becoming a financial underclass. This year’s results show that nothing has arrested the decline.
“Today, the average self-employed Briton has far less discretionary income available each month than their employed counterparts with over 70 per cent of self-employed respondents currently having £200 or less a month after meeting their regular outgoings.
“This explains why almost two out of three self-employed Britons now describe their finances as ‘just about managing’ or worse.”
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