- Recent increase in the pensions annual allowance is good news for the self-employed
- If your earnings fluctuate from year to year, timing your pension contributions can make a big difference
- Business owners can receive employer pension contributions, which are tax-efficient
If you are self-employed or the director of a limited company, you shouldn’t neglect your pension. While it may feel like your business takes up all of your time and energy, securing your retirement is also a key financial priority.
Even if your business is doing well, you still need separate retirement savings so that you are protected if things go wrong. Pension contributions come with a number of tax advantages and their levels can be adjusted to make the most of them.