4 PENSION POT

Best - - BEST FOR CASH ADVICE -

If you’re look­ing at sav­ing for the long-term, top­ping up your pension pot can be a smart choice. The big ad­van­tage of a pension is that you make con­tri­bu­tions from gross earned in­come – this is, be­fore you pay tax on it. So for a ba­sic-rate tax­payer, a full £1 goes into your pension kitty with­out a de­duc­tion of 20 per cent tax. Pension in­vest­ments are also taxed less than other in­vest­ment funds.

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