Pension Advice Maidstone
Advice on pensions is essential if you want to make the most of your retirement. If you already have a plan check out Facts & Figures' Pension Performance Review Service.
"The UK government is broke - there has never been a more important time for all of us to safeguard our own futures..." Simon Webster
Click here to access a pension calculator
Investment in a pension is the most tax effecient form of savings generally available to UK taxpayers. Pensions benefit from:
- Top slicing income tax relief on pension contributions. i.e. relief at the highest rate paid
- Largely tax free growth in fund
- 25% of the fund may be taken as tax free cash on retirement
The remaining 75% of the fund must be drawn as income; but compare the benefits of pension tax relief with say ISA's after just one year. The effect is compounded over the longer term. Take independent financial advice.
| | ISA | Pension 20% Tax relief | Pension 40% Tax Relief |
| Investment | 1,000.00 | 1,000.00 | 1,000.00 |
| Tax relief added | | 250.00 | 666.66 |
| Total investment | 1,000.00 | 1,250.00 | 1,666.66 |
| 5% Growth | 50.00 | 62.50 | 83.33 |
| End of year one | 1,050.00 | 1,312.50 | 1,749.99 |
| Extra | | 262.50 | 699.99 |
Facts & Figures are pensions experts, follow the links on the left to find out more or Contact Us for further advice.
Pension Advice Maidstone
