Starting Pension for 42yr Old

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kathryn

Registered User
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Hi I am a teacher paying tax at top rate. My husband is self employed and has no pension in place. He is 42. I have read alot of information on this site and have an appointment with an "independant adviser" from Providence Finance" next week. Are bond investments plus maybe a regular savings account my best option?

Can I reduce my own tax liability by making a contribution to his pension fund?
 
You can do AVCs' for yourself and your husband can set up his own arrangement, be it a PRSA or Personal Pension.

Just watch out for the charges on the products.
 
You cant reduce your tax liability by contributing to his pension scheme, for tax purposes even if you are jointly assessed to income tax you are granted income tax relief on pension contributions in respect of your individual income, not the combined amount.

Also you are probably a member of an occupational pension scheme therefore it would be appropriate for you to make AVCs to your scheme for tax relief purposes.
 
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