Despite the complications of the A-Day rules, there are still opportunities to help people maximise their pension contributions, claims Rowanmoor Pensions.
At an adviser seminar outlining some of the issues surrounding A-Day, David Seaton, director of Rownamoor - the company resulting from the management buy-out of the James Hay small self-administered scheme (ssas) and consultancy business, says it is possible for a company invest double the annual pension contribution allowance in one year. He says this is possible if a company sets up a defined benefit (DB) ssas, where the annual allowance is 10 times the pension increase, while the current limit for a defined contribution (DC) scheme is £215,000. For example, if a company wants to provid...
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