Putting your pension first
By Kirsten Hastings, 15 Feb 16
Pensions are a tax efficient and flexible way to save towards retirement but time is running out in the UK to use this year’s allowance, says Sarah Lord, managing director of Killik Chartered Financial Planners.
In the Summer Budget, Osborne announced a one-off opportunity to pay more into your pension before 5th April.
Even if you contributed the £40,000 maximum before the Budget in July, you can still add a further £40,000 before the end of this tax year.
This is a one-off opportunity to benefit from an increased annual allowance and, for those earning more than £150,000 a year, it may be the last chance to maximise tax-relief on pension contributions before reduced allowances kick in.
Tags: Killik & Co | Pension | Sarah Lord
