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Pension Tax Relief Secret Weapon | Leeds News

Pension Tax Relief Secret Weapon | Leeds News

Published 3 weeks, 2 days ago
Description

Unlock your retirement’s secret weapon: pensions. Every dollar you contribute gets a tax break before taxes are even calculated—basic rate taxpayers get 20% back, higher rate get 40%. Plus, if you’re in a workplace pension, your employer must match at least 3% of your 5% contribution, adding up to 8% growth. Your money invests in diversified markets, often managed by robo-advisors, growing steadily over time. And while you can access it at 55 now, that age rises to 57 by April 2028. Master these mechanics and let your pension work harder for your future.

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