The good news is we’re living longer than ever before. The bad news is, this means our retirements will cost us more than previous generations.
This could be through basic living expenses or the likely additional cost of later life care to contend with too. As a contractor, Jarvis can help you set up and manage your pension simply and efficiently. Find out the best way to make pension contributions through your business tax efficiently and check your national insurance record to make sure that you are eligible for maximum state pension entitlement.
If you have any gaps that need filling (due to breaks in employment for example) find out from HMRC or your accountant the best way to plug these while there’s still time. Lastly, don’t lose sight of any pensions you might have received from former employment. Check whether there are any benefits in amalgamating them or if it’s best to leave them where they are.