Opting out of Pension/s - LTA.

[alscar]

Question for the experts - as the title I am trying to decide whether to opt out and take advantage of the new LTA seeing as my pot/s are around that amount now or estimated to be in excess of.
My company will pay me an allowance equivalent to their contributions which obviously I will then have to pay tax on etc.
However that still leaves me x per month so could start a SIPP or similar for the Mrs ( to obtain tax relief ) although she only has unearned income so I guess that might limit that idea ?
Any words of wisdom ?

[Ginge R]

Alscar,

In principle, yes. Don't bother with a SIPP for her though, a cheap personal pension will allow her to maximise her £2880 (net) annual allowance more cheaply. If you want to do it yourself but would still appreciate a quick info steer, feel free to drop me a line. There are one or two pension trust products still around which allow the growth on your pension fund to be allocated to her - great when she starts drawing income - more tax efficiently.

There are other ways you can mitigate the tax you have to pay don't forget, using other wrappers (if they are suitable for you of course).

[pteron]

Ginge R will you PM me? Interested in an IFA and like to keep it in the family!