Monzo, Inclusive Money Target UK Self-Employed Pension Gap
Britain’s auto-enrolment system has lifted pension participation among eligible employees to nearly 90%, but it does not cover people working for themselves, whose uneven incomes can make regular contributions harder. Only 17% of the UK’s 4.4 million self-employed workers save into a pension, even though three-quarters say retirement saving matters. The second UK Pensions Commission has called the shortfall one of the pension system’s most urgent challenges.
On July 22, 2026, digital bank Monzo and the Centre for Inclusive Money at Nest, formerly Nest Insight, announced a project to test simpler, more automatic retirement saving for sole traders through a live Monzo Business customer initiative. The partnership combines seven years of Inclusive Money research with Monzo’s experience serving hundreds of thousands of sole traders. Monzo cited more than £350 million saved through its automated Savings Challenge in 2025. Findings will go to the Pensions Commission ahead of its 2027 retirement outcomes review.
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The history behind this eventMonzo, Nest Launch Pension Savings Project for Self-Employed Workers
Britain’s self-employed workers are generally outside the workplace pension auto-enrolment system that has helped millions of employees save for retirement. Irregular earnings can also make fixed contributions difficult. Digital bank Monzo and the research arm of the National Employment Savings Trust, or Nest, are seeking to reduce those barriers by embedding more flexible long-term savings tools into everyday banking.
The organisations have launched a pension savings project aimed specifically at self-employed customers, exploring how Monzo’s digital platform and accessible tools can encourage contributions that adjust to fluctuating income. The available report did not disclose a formal launch date, funding amount, participant target or contribution goal. The project will focus on whether banking-based prompts and simpler saving mechanisms can improve retirement provision among workers without employer-sponsored plans.
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