Wednesday, November 2, 2011

Sponsored blog post: Making the most of pension contributions with Informed Choice and @andrewneligan

If we are to live the retirement lifestyle we wish to, when we wish to, we need to ensure that we have built up sufficient capital from which to draw an income. The most common source of income in retirement is a pension; either private or company sponsored. The problem for many is that the level of pension planning is not sufficient to meet income expectations and, now the Government have restricted the amount that anyone can save into a pension plan each year to £50,000, it will be harder to build up sufficient capital. For those who intended to maximise pension contributions later in their careers this is no longer an effective strategy.

Fortunately there is a means to make larger contributions in the short term via the ‘carry forward’ rules which allows those who were previously limited by the special annual allowance, or who simply missed maximising contributions in the previous three years, to top up contributions now. There are specific requirements that need to be followed to meet the carry forward rules but it should be seen as an opportunity to quickly boost pension funding and minimise income tax for anyone who has the capacity to do so. Having a father in the law I know time is precious. My aim is to save busy lawyers time they don’t have to research and action the steps necessary to provide a comfortable retirement. Importantly I work on a fee basis to ensure transparency and no conflict of interest. You can contact me via

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