Self-Employment as Pension Planning?

Twointhebush

I'm nearly 50 and self-employed. As part of my pension I'm planning not to retire or to semi-retire. This is ok as my business is a vocation and I'm unlikely to want to retire anyway. I'm currently saving to have a pension in place so that I'll be comfortable regardless of how my business performs. Apart from having an additional revenue stream what are the pros and cons of self-employment during retirement? Would I still be able to benefit from pension relief for instance?

Thanks,

dunstonh

I'm planning not to retire or to semi-retire.

Remember that you may not get a say in the matter. Health can often force a change.

Apart from having an additional revenue stream what are the pros and cons of self-employment during retirement?

None. Its no different to you are now. Just multiple income sources.

Would I still be able to benefit from pension relief for instance?

If you havent taken an unsecured pension income from the taxable chunk (75%) then you will have the full allowance available upto 75. If you have then it is reduced to £4000 a year (a figure that can be changed or potentially fully removed in the budget).