Pension for Ltd Co Director
Discussion
The other half has not paid into a pension for approx three years, she's 45 and needs to get this going again so we've been reading around...
She now has her own business which is a Ltd Co and she is a Director. It would appear that she can open a personal pension and the Ltd Co can contribute directly into it making it a tax efficient way for her to save for retirement. I wanted to check with the PH knowledge bank whether this is a good idea and if so, what should it look like? For example, does she open the pension or is it the company? Is it a SIPP or something else?
The funding would probably be via a small monthly contribution plus lump sums directly from the Ltd Co bank account into the pension provider. I'm aware that there are funding limits and HMRC rules etc but only as a layman.
All help and advice gratefully received.
She now has her own business which is a Ltd Co and she is a Director. It would appear that she can open a personal pension and the Ltd Co can contribute directly into it making it a tax efficient way for her to save for retirement. I wanted to check with the PH knowledge bank whether this is a good idea and if so, what should it look like? For example, does she open the pension or is it the company? Is it a SIPP or something else?
The funding would probably be via a small monthly contribution plus lump sums directly from the Ltd Co bank account into the pension provider. I'm aware that there are funding limits and HMRC rules etc but only as a layman.
All help and advice gratefully received.
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