Pension - investment planning

The planning points will depend upon the status of the individual in question:

Self Employed Make very large contributions to utilise unused relief - Full tax relief on maximum contributions available now might not be post 2006

Owners/Managers Bring forward any plans to acquire property through a pension scheme - borrowing limits will be severely cut back in 2006.

Employees Defer retirement until 2006 - Tax free cash sum may then be larger.

Substantial funds Consider whether to cease all accrual of pension rights from 2006 - This is a pre-condition for guaranteed ring-fencing against the 55% tax charge.

Pensioners Explore methods of preserving capital on death - Some options will disappear in 2006.