Treat yourself this Christmas

Christmas is a time to relax with family and maybe get some respite from the long commutes and stressful inboxes, it's the same with retirement. So, treat yourself this Christmas and invest in your future. Better still, let the government top up that investment.

Tax relief is a great way to get 'free money' added to your pension. When you make a personal contribution, the government will automatically add 20% tax relief, up to the annual allowance. For those of you whose employer is paying the full contribution into your workplace pension, take advantage of this and get some extra 'free money' by contributing to a personal pension through Chelsea.

But how does the tax relief work? On all contributions within your annual allowance (this is based on relevant earnings) you will receive 20% tax relief. That means, if you contribute £800 to your pension a total of £1000 will be saved, including tax relief.

On top of this, if you are a higher rate or additional rate tax payer, you can also claim the extra tax relief through self-assessment.

For more of a breakdown on current tax relief rules, see below:

R0128 CFS Tax Relief Chart

Simply contact Sarah on 020 7384 7300 for more details.

Published on 12/12/2016