Survey Results

Key Findings

70% of respondents did not have a pension
The desire to work combined with financial commitments would force many to “work ‘til I drop”
The lifestyle choice and personal recognition were more important than financial rewards
60% of those surveyed earned less than £15,000 per annum, with 43% of full-time artists earning less than £15,000
Artists are twice as likely to earn less than £10,000 compared to the working population
51% of respondents did not know what their retirement age would be
Affordability was viewed as the key reason for not having a pension (56%)
Understanding of the benefits of pensions scheme is very low amongst the artistic community, with 90% having Poor or No Understanding of the tax benefits
ISAs and Property were the most favoured savings options
Research elsewhere indicates that where focus is placed on financial education there is a positive effect on pensions savings.

You can view a presentation of the initial survey results [requires Flash Player], that outlines and gives some context to the findings.

You can also read the full report of the survey, with recommendations PDF [requires Acrobat Reader].

This site is funded by Arts Council England for educational purposes. No financial advice is given on this site and you are advised to seek personal independent financial advice before undertaking any investment.