A new report from Standard Life found that working more than one job could not lead to multiple salaries, but could also see an average boost of £47,000 to retirement savings.
Workers holding down multiple remote jobs could add on average of £47,000 to their pension pot, according to a new report.
A recent Cabinet Office report revealed an increase in the number of individuals working more than one full-time job.
A new report from Standard Life found that working more than one job could not lead to multiple salaries and could also see a substantial boost to retirement savings.
According to the provider, an individual who works from age 22 to 68, contributing the minimum 8% into their pension (5% employer, 3% employee), and holds two jobs (funding two pension plans) for 10 years between 35 and 45, could accumulate a retirement pot of £257,000 by 68 (adjusted for 2% inflation).
This represents an increase of £47,000 compared to a similar individual working one job throughout their entire career who could have a pension pot of £210,000 when they reach retirement.
|
Career circumstances
|
Total retirement fund at age 68*
|
|
Consistently working one job throughout career, 22 – 68.
|
£210,000
|
|
One job between 22 and 35. Two jobs between the age of 35 and 45. One job between 45 and 68.
|
£257,000
|
|
One job between 22 and 35. Two jobs between the age of 35 and 45. One job from 45 until earlier retirement at 57.
|
£167,000
|
Source: Standard Life, 19 June 2025
Dean Butler, managing director for retail at Standard Life said: “Doubling up on jobs can mean extra income now, and potentially a long-term savings benefit too.
"However, it’s clearly not without complications – many employment contracts restrict multiple roles, and the sheer pressure of juggling two (or more) jobs can be heavy. If the stress builds up and pushes you into early retirement, that pension bump could vanish quickly.”
