Key pension facts

Relief at source schemes

Tax
Key pension facts

A type of pension arrangement whereby contributions into a pension are made from net income, i.e. after income tax has been deducted. Tax relief is not implicit as for net-pay schemes; therefore, the pension provider claims back the 20% basic rate tax from HMRC with any further relief (for higher and additional rate tax payers) claimed via the Self Assessment.

This is the norm for contract-based personal pension schemes.

See also our tax benefits of a pension blog post.

We’ll never leave you high and dry

Our customer support team is rated "Excellent" and is always on hand to help you during the setup process and once you have your new pension. There are 3 ways you can contact us:
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Log in to our website and chat to us

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Email us on support@myraindrop.co.uk

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Call us on 02039517253