At the end of the tax year, you will see a summary of the total contributions paid and you can easily share this information with your accountant for your tax returns, saving you time and money!
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It’s never been so easy to contribute to your pension! You can make a cash contribution and see the new balance the next working day. Your intuitive and user-friendly dashboard indicates how much has been paid into your SSAS and calculates the feasibility of further contributions. It also takes into account the current tax allowances, providing you with an accurate real-time value of your SSAS.
At the end of the tax year, you will see a summary of the total contributions paid and you can easily share this information with your accountant for your tax returns, saving you time and money!
You can start taking money out of your SSAS from age 55. You can only take out 25% of the funds you have built up as a lump sum, but this will be tax-free and subject to a lifetime cap. The remaining balance of the funds can be taken out as an income. After the tax-free allowance, this income will be subject to income tax, but not to national insurance.
The Retirement Capital dashboard has a special “Pension Income” portal to help you manage your income and see how long your money will last based on the returns from your investments. You can make adjustments to your pension payments here so that you cater for more financially difficult times of the year.
Pension Payroll is built into your platform account and so you can download payslips, your P60 and any other tax information you may need.
The money from your SSAS will always be paid into your bank account for security reasons and we will always call you to verify any changes you make within your account.