Maximising pension contributions

clock

Brian Davidson highlights the attractions of maximising pension contributions in tax year 2012/13

Over recent years, there have been a number of attacks on the pension tax reliefs, culminating with the announcement in the 2012 Autumn Statement that the annual allowance and the lifetime allowance will be reduced to £40,000 and £1.25 million respectively from 6 April 2014. Despite the reductions in the pension tax reliefs, pensions generally still are the most tax-efficient means of providing for retirement and full advantage should be taken of such reliefs in 2012/13 tax year. Any pension contributions paid personally will normally be tax relievable at the highest marginal rate(s) ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

What does a new PM and chancellor mean for investments?

What does a new PM and chancellor mean for investments?

'What is important is what happens over the long term'

Jasper Thornton Boelman
clock 23 July 2026 • 4 min read
SJP rebrands global equity income fund and reduces charges

SJP rebrands global equity income fund and reduces charges

Appoints Acadian as investment adviser

Patrick Brusnahan
clock 22 July 2026 • 1 min read
Beyond the 60/40: Why the traditional portfolio blueprint is being tested again

Beyond the 60/40: Why the traditional portfolio blueprint is being tested again

'Bonds should not be doing all the defensive work'

Will Dickson
clock 09 July 2026 • 4 min read