What if I become self-employed?
If you become self-employed, the Inland Revenue will not pay minimum contributions into any personal pensions for you. So, if you:
- have a personal pension; and
- start to work for yourself;
If you are already making your own pension payments, you should think about increasing them to cover the shortfall left by the Inland Revenue not paying minimum contributions into your personal pension. Remember, you will normally get tax relief on any payments you make, up to a set limit. For more information, please see Pensions for the self-employed – Your guide (PM5). Click here for details about how you can get a copy of this guide.
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