The benefits of a Lexo personal pension
Lexo offers a personal pension to investors seeking to maximise their returns and minimise their risk. As a general rule if you are a UK resident taxpayer under the age of 75, you can contribute, the net equivalent (i.e. 80% of), as much as you earn each year to your pensions, up to the annual allowance of £40,000. If you are not earning enough to pay income tax, you can still receive tax relief on pension contributions up to a maximum of £3,600 a year. 20% tax relief is added to your contribution paid by HMRC which is arranged by Lexo.
Because personal pension payments are considered net investments, which mean you pay in after tax money, the Lexo will automatically claim a further 20% of your contribution from the HMRC on your behalf. If you are a Higher Rate Tax payer, or Additional Rate Tax payer, further tax can be reclaimed from HMRC.
Growth of the pension fund is also tax-free, while the process of starting (or switching your pension provider) a pension is straightforward and simple – making a Lexo pension an attractive investment for a more secure future.
Switching your pension provider
We also allow you to consolidate older personal pensions from other providers; however, due to the complexities around pensions, we insist that we arrange this on an advised basis. Please contact us to discuss a pension switch.