Freelance Television Production - Pension Advice

sarahlake

Hello

I am seeking a bit of advice on pensions for freelancers. I am in my mid 30s and although I have been told for years by various people to start a pension, I've never been able to find out what the best option for me is.

I work freelance as a television producer - sometimes I am on PAYE and sometimes I invoice using my Schedule D number (depending on the production company and my role/job title).

When I am on payroll at somewhere like ITV, I pay into the auto enrollment account set up (NOW pensions). But at some companies this isn't an option and even if it were, it means having 6 or 7 different pensions because I work for a number of different companies each year on 2 -3 month contracts.

If I set up a private pension of some sort (stakeholder pension? personal pension?) that I contribute to each month, which kind would be best for someone in my position? And can I get my employer to contribute to the same one?

Any advice would be much appreciated. I know there is advice on here for freelancers, but I've found it difficult to find any advice for someone with as many short contracts as we have in the television world.

Thanks

Sarah

atush

first off, it doenst matter how many pensions you have. Join each one where the employer pays in- andf pay int he max to get their max contribution.

then, freelance work.

Will depend on how much per year you want to put in. Smaller amounts per month you can look at stakeholder, higher amounts you can look at Personal pensions or even Sipps.

but dont use the personal pension tor eplace the work ones. Join the work ones as the best pensions are the oens where other people pay in for you.

xylophone

You could consider making additional contributions to your NEST pension.

https://www.nestpensions.org.uk/schemeweb/NestWeb/public/memberhelpcentre/contents/how-can-i-make-additional-contributions.html

You might start a personal pension/SIPP.

You could take advice from an IFA.


https://directory.moneyadviceservice.org.uk/en

If you are a higher rate tax payer you may need to contact HMRC about additional tax relief.

https://www.gov.uk/tax-on-your-private-pension/pension-tax-relief

https://www.amazon.co.uk/dp/1911020196/ref=rdr_ext_tmb
may be worth a read.