Can you start a Private Pension after age 65...???

T

THE MACHINE

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Is it possible for a self employed person to start a pension after turning 65 ...they would obviously only be contributing for a few years certainly less than 5 and would choose a risk free investment option , would they get the 30% tax free AVC allowance...???

Many thanks for any advise.

TM.
 
Yes you can contribute to a Personal Pension right up to age 75, and claim tax relief on contibutions up to 30% of net relevant earnings. There has to be earned income, mind you, but as you say the person is self-employed, that doesn't seem to be a problem.

Liam D Ferguson
[broken link removed]
 
I presume that selection of appropriate funds for somebody with 10 years or less to retirement might be another key issue to consider? E.g. somebody in that situation MAY be better off choosing more conservative (lower risk/reward profile) funds than somebody with longer to go?
 
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