Pensions

 

At A&J Wealth Management, we assist people in optimising their retirement planning strategy. 

 

We are specialists in helping individuals and couples with accumulated pension savings who require analysis of their existing plans, as well as ongoing active management.

 

If you would like to speak to someone about your retirement plan, please do not hesitate to give us a call or enquire here.

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How Pensions Work

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Each contribution you make to a pension from earned income qualifies for tax relief at your marginal rate of 20%, 40% or 45%. 

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You can put up to 100% of your annual salary into a pension plan, subject to a maximum of £40,000, with the potential to carry forward unused allowance from the three previous tax years, if your earnings exceed this. 

 

 

If you happen to earn over £110,000 a year, then pension funding does get a bit more complicated, and if you've built up a pension fund worth more than £1 million, then things get a bit more complicated still. Of course, these are nice problems to have - but they need careful handling.

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Our Knowledge Centre delves further into each pension type such as defined contributions pensions and defined benefit pensions. If you're looking for more relevant details on your personal situation, please get in touch and one of our advisers would be glad to provide a free consultation to find out which solution will work best for you.