 |
| Self-invested
personal pensions (SIPPs) are becoming very popular with the
self-employed. They offer greater investment flexibility than
traditional personal pensions. Also, part of the fund can
be used for pension fund withdrawal in the future. |
|
SIPP maximum personal contributions
At
age at beginning of tax year |
| 35
or under |
17.5%
of net relevant earnings |
|
36 to 45 |
20%
of net relevant earnings |
| 46
to 50 |
25%
of net relevant earnings |
| 51
to 55 |
30%
of net relevant earnings |
| 56
to 60 |
35%
of net relevant earnings |
| 61
to 74 |
40%
of net relevant earnings |
Contributions
may be based on earnings up to the earnings cap, which is
set at £99,000 for the 2003/04 tax year.
The
past is not necessarily a guide to future performance. Levels
and bases of, and reliefs from, taxation are subject to
change. Tax reliefs referred to are those currently applying
and their value depends on the circumstances of the individual
investor/provider of the investment/fund in which the investor
participates.
Article date 03/04
|
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