A pension is simply a tax-effcient way of saving money for your future retirement needs. They are also very flexible allowing you to invest in a wide range of asset types, such as cash, securities, property and stocks and shares.

Pensions have one very important advantage - they're incentivised by the taxman. In fact, the taxman is usually generous when it comes to personal pensions, adding to your pension every time you pay money in.

Currently every £80 you pay in is topped up to £100, giving your savings an immediate boost of 20%. And higher rate taxpayers can claim back higher rate tax relief.

Plus, on top of the tax relief you receive each time you pay into your pension, the money you've saved grows tax free over the years.

Please remember future governments may increase or decrease the amount of tax relief you get.

Please note, HM Revenue and Customs practice and the law relating to taxation are complex and subject to individual circumstances and changes which cannot be foreseen.

Although pensions are essentially a type of long-term investment product, they are unique in their design being primarily for the purpose of providing income at a given date in the future to meet an individuals retirement needs. For this reason they are often addressed separately from other types of investment.

To discuss your Pension and Retirement planning options call us today with no obligation on 01525 383 296 or 01491 612559.

The value of investments and any income from them can fall as well as rise. You may not get back the amount originally invested.