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Pension Funding

Despite the ever changing pensions landscape, pension planning and saving for your retirement are still as vital as ever. Pensions are highly efficient, offering tax relief at your highest rate of tax on your contributions, and therefore are an important part of your overall planning.


  • Carry Forward of unused reliefs You may be able to contribute in excess of the Annual Allowance of £40,000 and receive tax relief at up to 45% using Carry Forward if you have contributed less than £50,000 in any of the previous three tax years. As this is a potentially complex area, particularly where Defined Benefit schemes are concerned, advice should be sought.
  • Annual and Lifetime Allowance reducing As of 6 April 2014, the Annual Allowance for retirement funding reduced to £40,000, while the Lifetime Allowance reduced to £1.25m. With the Annual Allowance now reduced, the ability to carry forward unused allowances from previous years represents a significant opportunity to fund higher levels of contributions than otherwise possible. The reduction in the Lifetime Allowance means that advice is more important than ever to ensure that you are optimising your retirement planning and are fully up to speed with the latest Lifetime Allowance protection opportunities.


The value of an investment will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than the amount invested.