This guide is designed to help private investors understand the importance of pension planning, make some sense out of the various rules that exist and generally enhance your knowledge.
The annual allowance tapers down for high earners
You can still contribute to your pension after you retire
You have got five years to get tax relief
Unless you are approaching retirement, thinking about your pension and retirement plans can seem unrelatable, possibly unnecessary and certainly boring. Many a financial services provider aims to educate their clients about the importance of pensions but few manage to make them interesting.
This guide does not claim to make them interesting, but it is designed to help private investors understand the importance of pension planning, make some sense out of the various rules that exist and generally enhance the knowledge of our readers. Why? Because the majority of people invest to save for their futures, and specifically one where they no longer earn a salary, and therefore are reliant upon their savings – and a pension can be the most important savings vehicle an investor might have.
Inheritance Tax (IHT) has been referred to as a “voluntary tax” because there are many legitimate actions you can take during your lifetime such that on death, you can reduce the amount of IHT…Read more
When discussing pension contributions one of the primary considerations is the annual allowance. The annual allowance is the most you and your employer can save into your pension within a tax year…Read more