Funding your pension now – why it makes sense to do this if you can

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Funding your pension now – why it makes sense to do this if you can

While we can’t offer you a nice hotel or a footie ground for a venue, our experts are still bringing you fantastic discussions from their kitchens to your sofas.

Our host Neil Watson – a managing partner at Tilney – talks to managing partner, Ann-Marie Atkins and technical pension specialist, Nigel Hatt, about paying into your pension now.

But paying into a pension scheme now – are you bonkers?

You’d be forgiven for thinking this in the current climate.

Lots of people are suffering from financial difficulty at the moment, but if you feel like you’re in a position to put some money away, it’s good to start funding your pensions sooner rather than later.

Our brilliant speakers answer, in detail, questions such as:

What are the current pension tax reliefs and allowances?

The current pension allowances are explained, as well as, what happens if you don’t use it all. The three rates of tax bands, depending on income, are also explained.

Why is it important to take advantage of tax reliefs?

It’s important to take advantage of pension tax reliefs while they’re there. After the pandemic, it’s not a far stretch to think that taxes may rise and some tax reliefs may be reduced.

Should clients be taking on a greater degree of risk?

Really, it helps if you have an understanding of how you’ve invested before. Can you sleep at night knowing you are taking more risk?

How should you contribute to your pensions?

What are the benefits of lump sum and monthly contributions – are there any tips for each one? When is a good time to pay into your pension for you?

‘My business is my pension, I don’t need a pension.’ Is this true?

A lot of businesses are going through difficult times at the moment so it’s important that people have different doorways. How can you structure your business to take advantage of tax reliefs?  

A summary note from the speakers

Markets are scary at the moment, but people need to remember that investments DO fluctuate and that pensions are long-term investments that often have a while to go before they’re used –  a lot of investment professionals talk about time in the market, rather than timing them.

Everybody’s circumstances are different – whether you’re employed, self-employed or a business owner – so professional advice can help you to understand the position you’re in. Then you can start taking sensible steps to make your future look brighter.

As Nigel says: ‘fill your boots while you can!’ (And, of course, if you can do it comfortably).

Get in touch

Staying at home might have given you a chance to think more about your pensions and what you should be doing with them. Tilney can help with that. 

You can book a free initial consultation with a Tilney adviser at a time that suits you to discuss your personal circumstances.

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  • Neil Watson (Host) Managing Partner
  • Ann-Marie Atkins Managing Partner
  • Nigel Hatt Pension Technical Specialist

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