Guide: Building a bigger pension pot

How you could take full advantage of the benefits and allowances available to help you to build a bigger pension pot.

As we enter the 2024/25 tax year, this guide explores opportunities to enhance and boost your pension savings strategy, laying a strong foundation for future financial security. Paying early attention to your private pension at the start of the fiscal year is not just about developing good saving habits; it’s also about ensuring you take full advantage of the benefits and allowances available to you.

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If you’d like to arrange an initial meeting to talk about your financial planning requirement, please contact us: email advise-me@fosterdenovo.com, call 0330 332 7866 or book a meeting.

THIS GUIDE DOES NOT CONSTITUTE TAX OR LEGAL ADVICE AND SHOULD NOT BE RELIED UPON AS SUCH. TAX TREATMENT
DEPENDS ON THE INDIVIDUAL CIRCUMSTANCES OF EACH CLIENT AND MAY BE SUBJECT TO CHANGE IN THE FUTURE. FOR GUIDANCE, SEEK PROFESSIONAL ADVICE.

A PENSION IS A LONG-TERM INVESTMENT NOT NORMALLY ACCESSIBLE UNTIL AGE 55 (57 FROM APRIL 2028 UNLESS THE PLAN HAS A PROTECTED PENSION AGE).

THE VALUE OF YOUR INVESTMENTS (AND ANY INCOME FROM THEM) CAN GO DOWN AS WELL AS UP, WHICH WOULD HAVE AN IMPACT ON THE LEVEL OF PENSION BENEFITS AVAILABLE.

YOUR PENSION INCOME COULD ALSO BE AFFECTED BY THE INTEREST RATES AT THE TIME YOU TAKE YOUR BENEFITS.