Overview of private pension contributions

Overview of private pension contributions

You can usually claim tax relief for your private pension contributions. There is an annual allowance for tax relief on pensions of £60,000 for the current 2023-24 tax year. The annual allowance was

State Pension if you retire abroad

State Pension if you retire abroad

If you are retiring abroad, you are still entitled to claim your UK State Pension as long as you have built up a suitable amount of qualifying years of NIC contributions. However, your entitlement to

Check your State Pension forecast

Check your State Pension forecast

The State Pension forecast provides an estimate of how much State Pension an individual can expect to receive when they reach State Pension age. The estimate is based on the applicant’s National

Pension Credits

Pension Credits

Pension Credits can provide extra income to those over State Pension age and on a low income. The credits were first introduced in 2003 to help keep retired people out of poverty. There are two main

Take advantage of new pension tax reforms

Take advantage of new pension tax reforms

The new pension tax reforms that were announced in the recent Spring Budget took effect from 6 April 2023. The old £40,000 cap on annual pension contributions has been increased by 50% to £60,000,

Spring Budget 2023 – Pension changes

Spring Budget 2023 – Pension changes

One of the key measures of the Spring Budget was the announcement that the £40,000 cap on annual pension contributions will be increased by 50% to £60,000 from 6 April 2023. Tax relief for

Adding employees to a workplace pension scheme

Adding employees to a workplace pension scheme

Automatic enrolment for workplace pensions has helped many employees make a start on providing for their retirement with the advantage that employers and government are also contributing to their

Limits to tax relief for pension contributions

Limits to tax relief for pension contributions

Under current rules, you can claim tax relief for your private pension contributions. The annual allowance for tax relief on pensions is £40,000 for the current tax year. There is a three year carry

What is a defined contribution pension?

What is a defined contribution pension?

A defined contribution pension (sometimes referred to as a money purchase pension scheme) is a type of pension scheme where the pension pot is based on how much money is paid into the scheme. This is

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