Pensions remain one of the most tax-efficient ways to save for retirement, due to a range of tax reliefs and allowances that can help boost retirement savings.
One of the key advantages of private pension contributions is the availability of tax relief on pension contributions. Individuals can
If you continue working after reaching State Pension age, your National Insurance position changes, but your Income Tax obligations largely remain the same.
Once you reach State Pension age, you stop paying employee National Insurance contributions (Class 1) on your earnings. However, your employer
With the end of the 2025-26 tax year approaching on 5 April 2026, there is still time for taxpayers to increase their pension savings and benefit from valuable tax relief. Pension contributions remain one of the most tax-efficient ways to save for retirement, with relief available at a taxpayer’s
When planning pension funding, inflation is often acknowledged but not always fully reflected in contribution decisions. Using an average inflation rate of around 5% over recent years helps to illustrate why this matters so much. Even when inflation appears to be easing in the short term, its
Automatic enrolment for workplace pensions has helped many employees to start making provision for their retirement with employers and government also contributing to make a larger pension pot.
The law states that employers must automatically enrol workers into a workplace pension if they are aged
The Additional State Pension is only available to those who reached the state pension age before 6 April 2016 and are receiving the Old State Pension. The Additional State Pension is an extra amount of money paid on top of the basic Old State Pension.
The Old State Pension is designed to provide
The Chancellor has kept the main pension allowances unchanged but has confirmed a new cap on salary sacrifice arrangements that will apply from April 2029.
There had been heated speculation that the Chancellor would change the pension rules to help the government raise taxes, but no changes were
Your State Pension forecast shows how much you could receive, when you can claim it, and how to boost it by filling National Insurance gaps.
The Check Your State Pension forecast service provides a way to understand your State Pension entitlement. This is a joint service organised by HMRC and the
Employers can generally claim tax relief on contributions made to a registered pension scheme by deducting those payments as an expense when calculating their business profits. This reduces the amount of taxable profit and therefore lowers the overall tax bill.
For businesses involved in a trade or
You can claim tax relief on pension contributions up to 100% of earnings, but exceeding the annual allowance may trigger charges. Tax relief is paid on pension contributions at the highest rate of income tax paid.
The first 20% of tax relief is usually automatically applied by your employer with no