Fri Dec 14, 2018 12:49 pm
#1657743
I am woefully under provided for when it comes to a pension, and to a large extent it is too late to do much about that.
However, AIUI I can put up to £3,600 pa in to a private pension, and get a tax credit(/rebate?) of 20% each year. When I come to draw on the pension (in a few years time) I will be able to opt for a 25% lump sum tax free. That all sounds far too good to be true from a tax perspective, so presumably it is. So what am I missing?
And yes, I do understand that any advise given is worth what I am paying for it
TIA
However, AIUI I can put up to £3,600 pa in to a private pension, and get a tax credit(/rebate?) of 20% each year. When I come to draw on the pension (in a few years time) I will be able to opt for a 25% lump sum tax free. That all sounds far too good to be true from a tax perspective, so presumably it is. So what am I missing?
And yes, I do understand that any advise given is worth what I am paying for it
TIA