Investment in personal pensions is limited to the greater of £3,600 and the amount of your UK relevant earnings, but subject also to the annual allowance (£225,000 for 2007/08) in all years except the year in which you retire. Premiums on personal pension policies and stakeholder pensions are payable net of basic rate tax relief at source, with any appropriate higher rate relief usually being claimed via the PAYE code or self assessment Tax Return. See the Case Study below. You will normally have selected one fund, or a spread of funds, for your pension savings. Would a switch give you more security or the scope for more growth?
Content by: Made Simple Group
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