Pensions can be a confusing subject.

You should harness the privileges given to Tax Approved retirement plans:

•  Tax relief is granted on the contributions, enhancing the purchasing power of your contributions.
•  Pension investments are free of UK tax on all investment income and capital gains.
•  Substantial tax-free capital sums can be paid on retirement together with a life-time income which is taxable as earnings.
•  Life assurance cover can be provided where tax relief is granted on the premiums and the lump sum benefits are free of income tax, capital gains tax and inheritance tax.

Self-employed

If you are self-employed you can still invest in personal pensions.  Your pension plan can be the main way for you to achieve long-term financial security.  It is especially important for you to start planning as early as possible.  Your pension is one of the most important investment decisions of your life. Your financial well-being for many years is likely to depend on it, so do not choose your pension plan or pension adviser at random.  It will pay to obtain independent professional advice from us.