100% Salary Sacrifice Pension

[Jockman]

IIRC Company Directors and Officers of a Company are exempt from Minimum Wage requirements, as are the self-employed

[ringram]

Jockman said:

IIRC Company Directors and Officers of a Company are exempt from Minimum Wage requirements, as are the self-employed

Ok, slight suspicion that might have had something to do with it thanks.

[HuntD]

PhilboSE said:

The tax relief you get on pensions is the most attractive thing about them, for sure. Your next trick is to make sure you find a good home for your pension to invest; somewhere with low charges that will give a return in line with your risk profile.

The Budget changes to the pension law means that you now have many more options on what to do with the money in your fund. But you do need to be sure that you won't need that money for a different purpose (house, family etc) before you are aged 55.

Edited by PhilboSE on Monday 7th April 20:46

My pension charge is 1% (with Aegon), at the moment its in a high risk investment but I may tone it down.

Thanks for your help.

[ChasW]

Pretty sure that my boss had done this but not 100%. I think he made sure he was paid a salary up to the 20% threshold and therefore paying his NI as well. The rest, not an insubstantial amount, plus the full employers NI saving went into his SIPP. He lived off an increased mortgage at some ridiculously low rate. He was a maths graduate so I reckon he had done his sums correctly.

[Chainguy]

PhilboSE said:

The tax relief you get on pensions is the most attractive thing about them, for sure. Your next trick is to make sure you find a good home for your pension to invest; somewhere with low charges that will give a return in line with your risk profile.

The Budget changes to the pension law means that you now have many more options on what to do with the money in your fund. But you do need to be sure that you won't need that money for a different purpose (house, family etc) before you are aged 55.

Edited by PhilboSE on Monday 7th April 20:46

Isn't it up to age 57 from 55 now?

An extra 2 years slog for me anyways.