Nigel Farage has come under criticism for earning £400,000 a year promoting the purchase of physical gold as part of people’s pension investments. The Reform UK leader earns the sum for a

role at Direct Bullion that requires just four hours of work per month.

Farage has appeared in social media videos, including Facebook and YouTube reels, explaining “how to protect and grow your wealth with tax-efficient gold” through self-invested personal pensions (SIPPs). Some of these clips, however, lack clear disclaimers about the risks of gold, the absence of regular income, and storage costs.

Tom McPhail, a governor at the Pensions Policy Institute, described the advice as “niche” and suitable only for sophisticated investors. He warned: “For 90% or more of the population, the safest approach is to join your workplace pension and follow the default fund with a mix of bonds, equities, property, and cash. Farage’s promotion of physical gold could be risky for the average investor.”

Tom Brake, CEO of Unlock Democracy, has raised concerns with the Advertising Standards Authority (ASA) over Farage’s videos, highlighting missing or barely legible disclaimers.

A Reform UK spokesperson dismissed the critique, saying the party “took pity on the Guardian for not having better things to do than measure font sizes.” Farage himself defended the promotion, claiming investors who followed his advice with Direct Bullion saw returns exceeding 100%.

Farage’s gold promotion is just one of several lucrative side roles. He has earned roughly £450,000 from presenting on GB News, £48,000 annually as a Daily Telegraph columnist, and more than £50,000 from Sky News Australia.

Investment experts say gold can have a role in a diversified pension portfolio if approached carefully. Kate Marshall of Hargreaves Lansdown noted that exchange-traded commodities (ETCs) can provide low-cost exposure to physical gold without the complications of storage. Photo by Gage Skidmore from Peoria, AZ, United States of America, Wikimedia commons.