Cohesion and Equality

Ready for Retirement?

Pensions and Bangladeshi Self-employment

By Phil Mawhinney

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Black and minority ethnic people in all ethnic groups are more likely to live in poverty during retirement than the wider population. Bangladeshi and Pakistani people are three times more likely than white people to be in pensioner poverty. Meanwhile, black Caribbean people are twice as likely.

One reason for this is that many people - especially in the Bangladeshi community - are self-employed, running their own businesses. This brings additional barriers to building up a decent pension, such as not receiving employer contributions to workplace pensions.

This report explores these issues in detail and in the context of government reforms to pensions. It recommends ways in which the government and other institutions can improve pension outcomes for black and minority ethnic people.

This report was funded by the Nationwide Foundation. Read more about our financial inclusion work.


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