Pensions for Self-Employed Individuals
For self-employed individuals, there’s no automatic workplace pension scheme to rely on, which means you need to take full control of your retirement savings. Setting up a personal pension or a self-invested personal pension (SIPP) is a great way to ensure you’re saving effectively for retirement, while also taking advantage of available tax relief.
At Anglian Wealth Management, we help self-employed individuals set up and manage their pensions to ensure their financial security in later life.
How It Works
As a self-employed individual, you’ll need to set up a personal pension plan or SIPP to save for retirement. These pensions allow you to benefit from tax relief on your contributions and provide flexibility in terms of how your money is invested. We’ll help you choose the right pension option, ensuring your contributions are working as hard as possible for your retirement.
Key Benefits
- Tax Relief: Even if you’re self-employed, you can still benefit from tax relief on pension contributions.
- Flexibility: Personal pensions and SIPPs offer flexible investment options to suit your goals.
- Expert Guidance: We provide personalised advice to ensure you’re maximising your pension savings.
The flexibility of a SIPP allows you to spread the risk, especially if some investments perform badly. However, these do tend to have higher costs than a standard pension and active management is essential to maximise the benefits of the wider investment choice on offer. For these reasons, they will not be suitable for everybody and generally only those who are fairly experienced at actively managing their investment should consider this type of investment.
The value of a pension with St. James’s Place will be directly linked to the performance of the funds selected, and the value can therefore go down as well as up. You may get back less than the amount invested.
The levels and bases of taxation and reliefs from taxation can change at any time and are dependent on individual circumstances.
Book a Meeting
Book a no-obligation consultation meeting with our financial advisors today.
Contact Us
Monday 9 am–5 pm
Tuesday 9 am–5 pm
Wednesday 9 am–5 pm
Thursday 9 am–5 pm
Friday 9 am–5 pm