Retirement & Pensions

It is important to build up wealth in your working career to secure your retirement standard of living, and most individuals do so by paying into tax favoured personal pensions. However, the pension landscape is notoriously complex, and it can be difficult to know the best way to invest. Our experienced team can help you navigate the many pension schemes and invest in the most tax effective way possible.

Investing in your future

The concept is a sound one. You get tax privileges as you put money in and whilst you invest. In addition, you only pay tax when you take money out and even then, there is the tax free lump sum to be taken. The main drawback is that the funds are only accessible from age 55 and even then this is restricted and the tax-free lump sum is usually only 25% of the fund value subject to a cap. Then of course, there are the many different types of pension scheme that are available to choose from.

Investing in tax favoured personal pensions inevitably brings complications including limitations on the amounts you can pay in each year and the amount you can accumulate in your personal pensions in your lifetime and still be eligible for the maximum tax free lump sum. Notwithstanding these, our experience shows personal pensions are a valuable way to build up your savings for retirement and our experience will assist you in this objective.

If you would like to discuss your pension and retirement plans with one of our pension accountants, please get in touch.

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Afon House
Worthing Road
Horsham
West Sussex
RH12 1TL

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