How Can I Be More Tax-Efficient?
Pensions offer some of the most generous tax benefits available — but many people don’t fully take advantage of them. Reviewing your contributions, allowances and tax position can help you grow your pension more efficiently and potentially save significant amounts over time.
🟩 Maximising Your Annual Allowance
Each year you can contribute a set amount into your pension and receive tax relief from the government. Making full use of your annual allowance ensures you’re not missing valuable tax benefits.
🟩 Carry Forward Unused Allowances
If you haven’t used all of your annual allowance in recent years, you may be able to carry forward unused amounts. This can allow for larger contributions now, with significant tax advantages.
🟩 Higher Rate Tax Relief
If you’re a higher or additional rate taxpayer, you may be entitled to extra tax relief on your pension contributions. Ensuring you’re receiving all available reliefs can significantly boost your pension pot.
🟩 Using Employer Contributions
If your employer offers salary sacrifice or additional employer contributions, this can be one of the most tax-efficient ways to boost your pension without affecting your take-home pay as much.
🟩 Tax-Free Lump Sum at Retirement
When you retire, you can usually take 25% of your pension pot tax-free. Careful planning now can help maximise this benefit when the time comes.
You don’t need to figure this out alone. I’ll take the time to explain everything in simple, clear language, review your existing pensions with you, and show you what steps you can take to strengthen your retirement plan. No jargon. No pressure. Just expert advice tailored to you
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The value of investments can fall as well as rise and you may not get back the amount originally invested.