Planning for retirement

Freelancers don't have an employer pension, so it's up to you. A personal pension or SIPP gets tax relief on your contributions.

State Pension

Check your State Pension forecast on GOV.UK. Gaps in National Insurance contributions can sometimes be filled with voluntary contributions.

Retired membership

When you stop working, you can move to Retired membership for £60 a year.

Good to know

• Keep business and personal finances in separate bank accounts; it makes tax returns much easier.
• Review your rates and terms once a year, for example each January.
• Our business guides are reviewed every year by the Professional Practice team.

Downloads

• Late payment letters (Word, 37 KB)
• Starting out as a freelancer (PDF, 520 KB)

Page last reviewed 9 March 2026