Pension planning for business owners
Private pension products
Guide
There are different types of personal pension.
They include:
- stakeholder pensions - these must meet specific government requirements, for example limits on charges
- self-invested personal pensions (SIPPs) - these allow you to control the specific investments that make up your pension fund
Read more on personal pensions.
You should check that your provider is registered with the Financial Conduct Authority (FCA), or the Pensions Regulator if it’s a stakeholder pension.
Paying into a personal pension
You can either make regular or individual lump sum payments to a pension provider. They will send you annual statements, telling you how much your fund is worth.
You usually get tax relief on money you pay into a pension. Check with your provider that your pension scheme is registered with HM Revenue and Customs (HMRC) - if it’s not registered, you won’t get tax relief.
Read more on tax on your private pension contributions.
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