Simple Low Cost Option
Jennifer is 42 and self-employed. She has had a very profitable year and wishes to make a lump sum contribution into pension to offset against her tax liability and improve her retirement funding.
- Wishes to make £30,000 gross single contribution
- 40% tax payer
- Various older and highly charged private pensions
- Too much paperwork
- Wants simple arrangements
- Wants little ongoing involvement
- Make contribution to new low cost stakeholder pension
- Consider, if appropriate, consolidation of older plans into new Stakeholder pension
Benefits from advice given
- New, low cost, arrangement
- 20% Income Tax relief at source
- Further 20% Income Tax relief via tax return
- Minimal paperwork and administration
- Potential to reduce cost of older plans if consolidated
Talk to us now!
Call us on either - Colchester: 01206 838400 / Ipswich: 01473 259201 or
We will look to carry out a regular review of your circumstances, objectives, needs and portfolio performance to ensure all arrangements continue to be suitable and advise of any changes that may be appropriate.
This example is for illustrative purposes only, based on current legislation and tax allowances. Tax rules and regulations are subject to change.