Self-Employed Pension Help

Bomber_Busbridge

Hello All,

I need some guidance on the best course of action in regards to setting a pension for myself.

I have two jobs. Part of the week I'm employed and I pay into the work's pension. However, during lockdown last year I started my own cleaning company and as I've got more and more work I've reduced the number of hours in employed work to concentrate on my own business. I work 3 days employed and 2 days self employed. As my own business is growing and am drawing from it each month to take a wage and the amount I'm paying in to my work's pension has reduced, I now want/need to set up a personal pension to be paid from what I earn from my self employed work. 

Does anybody have any tip/recommendations on what I should do? I'm happy to answer questions to help people with my query.

Thank you.

dunstonh

 As my own business is growing and am drawing from it each month to take a wage and the amount I'm paying in to my work's pension has reduced, I now want/need to set up a personal pension to be paid from what I earn from my self employed work. 

Self employed people do not take a wage.   That only happens with limited companies.   So, can you confirm your status.  Are you a sole trader a shareholding director of a limited company?  (it makes a difference with pensions)

Bomber_Busbridge

I'm a sole trader. Thanks.

Marcon

This recent thread should help: https://forums.moneysavingexpert.com/discussion/6337565/help-please-with-new-personal-pension-for-sole-trader-self-employed-33-year-old#latest