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Auto-enrolment on track – Benefit from up to 69% tax relief with your Redego Pension!

Posted by Ifan | Posted in Agency | Posted on 10-12-2012

The legislation is designed to encourage more workers to start saving and making contributions for their retirement alongside their employer, which is why the majority of employees will be enrolled.

The Redego pension scheme is the most effective way for you to get money from contract into personal hands. Taxable pay is exchanged for your investment and so avoids all HMRC deductions.

Because our scheme uniquely enables you to avoid both employers and employees national insurance contributions, this is far more tax efficient than any existing arrangement you may have in place and makes even short term membership very lucrative indeed for you.

A scheme tailored to your needs

With the Redego Group Personal Pension Scheme you benefit from:

  • Up to 69% tax relief at source, even basic rate taxpayers save 39%
  • No set-up fees whatsoever
  • Flexible investment levels, you decide what goes into the scheme each month
  • A fully portable pension (if you leave Redego you are free to continue investing or can transfer without penalties)
  • A wide fund choice so you can choose exactly how your money is invested (you have access to specialist independent advice too).

Our Independent Financial Adviser partners at ContractorFinancials can also help consolidate any other pensions you may have built up elsewhere and this can also be done with no set up fees whatsoever. This means that you can bring any existing retirement nest eggs into one manageable basket. The low annual management cost of the Redego scheme could work out far cheaper than the charges of older style pension schemes.

Access your pension monies sooner than you think!

Even with those massive tax savings of up to 69%, Contractors may sometimes still be put off pensions as a savings vehicle because you have to wait until old age to access the funds. However, you could be able to get your hands on the funds sooner than you think though.

You have the option to release 25% of your pension as a tax free lump sum as soon as you reach age 55 (and still keep working if you wish). This allows Redego clients to fund home improvements, pay off your mortgage or take that trip of a lifetime – literally from money that would have gone to the tax man had you taken a higher salary whilst at Redego.

Who are ContractorFinancials?

They are Independent Financial Advisers who specialise in offering financial solutions tailored to the unique needs of Contractors. They work closely with Redego to offer clients a complete financial planning service which also includes advice on other investments, contract based mortgages and protection.

To find out more about the tax benefits on offer using the Redego Group Personal Pension Scheme call Andrew Gains or Kate Woodhatch at ContractorFinancials on 0845 062 8888 or email andrew@contractorfinancials.com for a no obligation illustration of the benefits.