Pensions, pensions, pensions

JOHN ENDACOTT considers pension planning both before and after A day.

TONY BLAIR FAMOUSLY referred to 'education education education'. For this third Labour administration the phrase 'pensions pensions pensions' is probably more appropriate. However there is a link with education and that is as far as the pensions knowledge of tax advisers is concerned.
In the course of advising the self employed and company directors on their tax and accounting affairs decisions are made which have long term pensions implications but which are often not appreciated or are poorly understood. State pensions i.e. the basic pension and the additional state pension (S2P) are determined by National Insurance contributions on which we advise frequently. Private pension arrangements both personal and occupational are creations of the tax legislation. Pension issues are therefore in the middle of our work and yet often...