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Maike Currie, VP Personal Finance at PensionBee, for comments on how the UK’s side hustle economy has reached record highs, but only a few side hustlers save any of their earnings into a pension.
For millions of people, a side hustle has become a lifeline against the rising cost of living, but the extra income is too often swallowed up by day-to-day spending or held in places that won't deliver the long-term growth a pension can. This is a missed opportunity for building much-needed retirement wealth.
Arguably, the most worrying finding is that a quarter of side hustlers believe their workplace pension alone will be enough. The reality is that Auto-Enrolment minimums are not enough to fund a comfortable retirement while millions of 'invisible' workers - including carers and the self-employed - are excluded from the system altogether.
✉️ Adam Cooper / Steve Kennedy / Chris Foyle at PensionBee on press@pensionbee.com
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