1- Salary Sacrifice
Did you know that you may be able to contribute into your workplace pension through salary sacrifice? This helps higher rate tax payers avoid the process of having to reclaim their additional tax relief (as their contributions go in Gross). It can also reduce the National Insurance contributions both you and your employer pay, with some employers choosing to maximise your pension by contributing their NI savings into your pension too!
Speak to an adviser to see if this is suitable for you as it may impact your insurance, mortgage or other benefits.
2- Carry Forward
Did you know you can carry forward up to 3 years of unused pension allowance? If you want to make additional contributions in a given tax year and are concerned about exceeding your annual pension allowance, it is worth checking if there’s any allowance to carry over! Our advisers can help you with this so do get in touch.
3- Pension Enhancements
Did you know that that old pension pot you want to move may contain enhancements or guarantees that you could lose by transferring? It’s really important that you fully review your arrangements before making changes that could potentially cost you money. Our advisers help you to develop a comprehensive understanding of your existing pensions and will make expert recommendations on how to maximise these. If a transfer is suitable, they will process this for you with minimal hassle!