Home > Projects > 2018 ISAs > Make a 2018 Pension Contribution

Our Nucleus Pension lets you build a investment fund for your retirement. One-Off admin fee of £79.95 + VAT to set up your Nucleus Pension Scheme.

How much could you pay in?

Tax relief on your contributions

Any UK resident under the age of 75, can add money to a pension and receive tax relief, you don’t need to work or pay tax.. Another benefot is you are able to save into a pension for your children or grandchildren. To receive tax relief on your personal contributions, you can only contribute as much as you earn each tax year, or £3,600, whichever is greater, to a maxium of £40,000 per year 2018/19. If your salary in this tax year is £22,000, that’s the maximum you can add across all your pensions and receive tax relief.

If you’ve flexibly accessed a pension you can only contribute up to £4,000 each year to money purchase pensions.

What counts a pension contributions?

  1. The money you put in your pension
  2. The money the government pays in pension tax relief
  3. Any contributions paid in by someone else (e.g. your employer)
  4. Any benefits you build up in a final salary scheme

Save from just £10 a month

Pension tax relief

No matter how much tax you pay, the government will always add 20% in tax relief to your pension. So if you put £8,000 in your pension, the government will add an extra £2,000, bringing the total amount to £10,000.

You should ensure that you do not contribute any more than 100% of your earnings after tax relief has been received, or £3,600 if this is greater.

How do I get my momey out?

On your 55th birthday (57th from 2028) you can start to take money from your pension, even if you’re still working.

Tax Free Cash?

You can take up to 25% of your pension tax free. You are not required to by an annuity, you are free to decide how to take the remaining 75%, bear in mind any withdrawals maybe taxed as income.

Pension Flexibility

You can take as much or as little money from your pension as you like. This provides control over how much tax you pay. Take your whole pension in one lump sum (25% tax-free), or drawdown smaller amounts as required. You have the option to take a regular income or you can leave your pension invested if you don’t require income in the short term.

Pension Fees & Charges

  • Simple – One-Off admin fee of £79.95 + VAT. Invoiced to the parent or guardian.
  • No initial charges.
  • No exit charges.
  • No on-going adviser fees.

Getting Advice!

If you’d like to discuss setting up a pension please call Richard Bishop on 01384 635457 or email: hello@premierpractice.co.uk

To arrange an informal meeting at our cost to explore your requirements, please email: richard@premierpractice.co.uk