Should I make further pension contributions and break fixed protection.

BeatTheSystem

Hi

 I have Fixed Protection 1.5M. Pension Pot is north of 2M. I am 55 and have not drawn the pension but expect to in 3 years or so.

I recieve sufficient salary and have adequate non pension investments. Fortunatly My ltd company can afford to disburse 60K extra each year as a bonus/pension contribution for the next 2 or 3 years.

 The reason its attactive is becuase it seems to me that pension contributions completly elliminate all NI (employer and employee)

 It seems a no brainer, with the only risk being retrospective tax due to Labour reversing abolishment of the LTA.

 Any views on adding further to the pension?

Marcon

BeatTheSystem said:

Hi

 I have Fixed Protection 1.5M. Pension Pot is north of 2M. I am 55 and have not drawn the pension but expect to in 3 years or so.

I recieve sufficient salary and have adequate non pension investments. Fortunatly My ltd company can afford to disburse 60K extra each year as a bonus/pension contribution for the next 2 or 3 years.

 The reason its attactive is becuase it seems to me that pension contributions completly elliminate all NI (employer and employee)

 It seems a no brainer, with the only risk being retrospective tax due to Labour reversing abolishment of the LTA.

 Any views on adding further to the pension?

Helpful reading:   https://techzone.abrdn.com/public/pensions/Technical-guide-fixed-protection