In 2016 around 1.7 million more people started paying into a pension scheme, thanks to automatic enrolment in workplace pension schemes. This has led to savings of around £1 billion worth of unnecessary tax payments.
It’s one of the most dramatic demonstrations of the tax-saving powers of a pension. Whether you’re just starting to save for retirement, or are preparing to access your pension pot, you’ll want to look at Your pension tax guide. It explains in simple terms how pension tax relief works, how the growth in your pension pot is also sheltered from tax, and – most importantly – how to access your pension pot in the most tax efficient ways.
Download your free guide here.
For advice on accessing your pension pot, find a local financial adviser who specialises in retirement planning.