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Any self-employed person, or any PAYE employee including directors in non-pensionable employment can contribute to a personal pension. There are several benefits to contributing to a personal pension including full tax relief on your contributions, tax-free investment growth and tax-free cash on retirement (25% of your retirement fund). You can retire any time between the ages of 60 and 75, take your tax free lump sum and then invest the remainder of the fund, or cash it in subject to a deduction of taxation.
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To arrange a review contact Barker Independent Financial Advisers 1850 373 222.
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