Yes, I know I have said that pension tax relief is under threat a number of times in the past and been wrong…
However a recent announcement in the House of Lords revealed that the Government is set to take a close look at the current pension tax relief system.
This could well be beneficial for low earners but higher rate tax payers are seriously in the firing line.
Who should be taking notice and considering urgent action?
- Higher rate tax payers over 50 who expect to be back to paying basic rate tax in retirement have the most to lose if the rules change and the most to gain by taking action now
- Higher rate tax payers considering early retirement
- Anyone facing the prospect of paying higher rate tax on redundancy payments
In all of the above cases maximising pension contributions whilst higher rate tax relief remains available will produce some amazing returns even with a cautious investment strategy. In fact, almost all higher rate tax payers over 50 should be looking at this.
Don’t delay. Talk to your pensions adviser today. Or, if you prefer
Phone me, Richard, on 07770 575122, and let me explain why this is so important to you
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