Clients often leave it too late to approach their advisers as the tax year end approaches, according to Justin Scott, senior pensions consultant in Standard Life’s technical consulting team.
Mr Scott said advisers were coming to him as the tax year end neared because, "for a lot of allowances, it's use it or lose it".
In the latest FTAdviser podcast, he explained, for most clients pension funding was key and should be remembered as being tax advantaged.
He warned that high income clients faced challenges, including "the administrative nightmare" that is carry forward.
Mr Scott also explained what the "pension tax equation" was and why pension needs are becoming increasingly complex.
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