The benefits of a pension scheme for self-employed partners far outweigh the complexity of the pension rules, according to Howard Hackney
I am a massive advocate of pensions for the self-employed. However, I frequently come across partners in law firms who are reluctant to commit to pension planning for a variety of reasons.
Those reasons usually focus on having to wait until the age of 55 to access the funds, the complexity of pensions and the fact that the individual does not have the funds to make contributions.
While these are all valid excuses, I can demonstrate that the self-employed partner or director in a law firm should give pensions serious consideration – it’s not as boring as you may think.
My comments in this article relate to what are known as ‘money purchase’ or ‘defined contribution’ schemes where...
Howard Hackney LLP