SmartMoney Magazine Sep-Oct 2020

Welcome to our latest issue. As the world continues
to work out how to live with the coronavirus
(COVID-19) pandemic, many will agree that the new
normal needs new thinking.
The pandemic has unleashed changes that seemed
unthinkable only six months ago. Along with the
health, safety and well-being of family, friends and
loved ones, the new normal has also highlighted the
need for financial guidance and support during this
turbulent period.
Saving into a pension is one of the most tax-efficient
ways to save for your retirement. Not only do pensions
enable you to grow your retirement savings largely free
of tax, but they also provide tax relief on the contributions
you make. On page 10, we look at the various pension
allowances that you need to be aware of and help you
understand how to make the most of them.