Nigel Farage has come under renewed criticism after it emerged that he earns £400,000 a year promoting physical gold as a pension investment, a move experts warn is unsuitable for most everyday savers.
The Reform UK leader is paid more than four times his annual MP’s salary for a role with Direct Bullion, a company that sells physical gold and silver. According to disclosures, the work amounts to around four hours a month and involves Farage appearing in promotional videos shared on Facebook and YouTube, where he urges people to consider putting gold into their pension pots as a hedge against economic instability.
Financial experts and pensions specialists have raised concerns about the message being pushed. While gold is often viewed as a store of value during periods of high inflation or geopolitical uncertainty, advisers say it is a volatile commodity that does not generate income and is generally unsuitable as a core pension investment for ordinary workers. They warn that promoting gold as a pension solution risks oversimplifying complex retirement decisions and could expose savers to unnecessary risk.
Critics have also questioned the optics of the arrangement, noting that Farage is a prominent political figure with a large following, giving his endorsements significant influence. They argue that his role blurs the line between political leadership and commercial promotion, particularly when the product being promoted involves long-term financial decisions such as pensions.
Farage has defended the role, saying he is transparent about his earnings and believes people should have greater freedom to protect their savings from inflation and currency devaluation. Supporters argue that gold has historically played a role in diversified portfolios and that individuals should be free to choose how they invest for retirement.
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