Comment and Blogs
This last 10 months has been difficult for everyone, one way or another, but for pension schemes with property it has been a particularly difficult time.
It is quite hard to believe that we have just welcomed in the start of a new decade as 2020 begins.
It is hard to believe that the first SIPP was sold over 30 years ago.
Starting a pension for a child is a very long-term investment, and probably one only considered by high net worth individuals who have used every available tax wrapper to the max. Given the most that can be paid in for someone with no earnings is £3,600 gross a year, it’s important that any pension started is low-cost or the tax benefits can quickly be wiped out.
As the UK moves into the 7th week of lockdown and the world has changed beyond all recognition, it has also been a time of reflection.
Forgetting the taper may be wishful thinking for those of us in the pensions world but most of the general public (NHS aside) may be blissfully unaware.