Annual and lifetime limits
Tax relief means some of your money that would have gone to the Government as tax goes into your pension instead. You can put as much as you want into your pension, but there are annual and lifetime limits on how much tax relief you get on your pension contributions.
Why it’s important to know your start and end points
Reaching wealth goals and achieving personal ambitions are major objectives of the financial planning process. In order to make plans for the future, you need to know where you are today and where you want to be in the future.
Families could be missing out on thousands
Half (49%) of parents are confused by the array of state benefits available to them, and many don’t claim them even though they are eligible according to figures from LV=’s 13th Cost of a Child study.
Increasing the long-term value of your investments
It’s natural to be looking for ways to smooth out your portfolio’s returns. Investing regularly can smooth out market highs and lows over time. In a fluctuating market, a strategy known as ‘pound-cost averaging’ can help smooth out the effect of market changes on the value of your investment and is one way to achieve some peace of mind through this simple, time-tested method for controlling risk over time.
Value of payouts from pension schemes
The lifetime allowance is a limit on the value of payouts from your pension schemes – whether lump sums or retirement income – that can be made without triggering an extra tax charge.