Retirement & pensions

Ask yourself these eight questions to keep your retirement plans & your portfolio prepared for inflationary times.

In this world of ours very little stands still. The same can be said for the pensions landscape. As high earners are faced with even more restrictions and potential pitfalls, it is vital to understand the rules and seek specialist wealth planning advice. Luckily, there are plenty of tax-efficient options available to high earners wanting to save for retirement.

Pensions are among the most tax-efficient ways to invest for your future. But pension rules are complex – and the most recent changes in legislation have made them even more challenging. What do the new rules mean, and could you benefit from them?

There is a limit to how much you can save into your pension tax-free over your lifetime, known as the lifetime allowance (LTA). It’s been controversial because the government has steadily reduced the limit down from £1.8m in 2012 to its current level of £1,073,100.

In this article we talk about how to maximise your personal pension tax relief, check your unused pension allowance and follow the pension carry forward rules. 

If you are planning your retirement, it is important to understand the amount you can put into your pension each year in order to gain valuable tax relief, known as the ‘annual allowance’.