Spouse's Pension

Where a spouse works for the practice as a secretary or administrator (often up to the lower national insurance limit) there is an opportunity to arrange an occupational pension.

The significant tax and investment planning benefits include:

• Full tax relief on the pension contribution as a business expense;
• Building retirement income in the spouse’s own right which can be set against their personal tax allowances;
• Extra pension provision when the employer’s may have been maximised.
  

The value of investments and income from them can fall as well as rise.

The levels and basis of and reliefs from taxation are subject to change and their value depends on the individual circumstances of the investor.

The Financial Services Authority does not regulate taxation and trust advice.