52% of self-employed people do not have a retirement plan, according to research by Aegon.

The UK is falling short compared to the rest of the world when it comes to retirement planning – 44% of self-employed people have a retirement plan, compared to 60% globally.

Out of those who don’t have a plan, 52% predict that they’ll still be working after they are 65.

In terms of securing the retirement lifestyle they want, only 20% feel confident they’ll have a comfortable retirement.

Other findings:

• 29% have a backup plan to give them an income if they can’t work before reaching retirement
• 49% will rely on the state pension and 40% on their own savings for retirement income.

Kate Smith, head of pensions at Aegon, said:

“With all the day to day pressures involved in working for themselves, many find it difficult to make plans, but taking time to write a pension plan brings many benefits, not least making it immediately tangible.

“Writing down a retirement plan brings it to life, making it more likely they will act on it. It also allows them to refer back to it and share it with their partners, or even get input from others, including advisers – that’s difficult to achieve if it’s just in your head.”