Pensions  

Pensions taxation and the importance of planning ahead

Pensions taxation and the importance of planning ahead

Pensions as we have them today are deemed exempt, exempt, taxed – otherwise known as EET. This means that payments into a pension are tax-free because they get tax relief, the growth is tax-free, and only once income is taken in retirement will tax be paid – though of course 25 per cent of the fund can be taken tax-free at that point.

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