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Citizens Advice - Hillingdon Independent Financial Advice

Telephone: 0344 848 7903
Area serviced: London Borough of Hillingdon
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Employers can set up an occupational pension scheme for their employees. An occupational pension scheme can be offered to both public and private employees. If your company does not offer a pension scheme, you can set up a private stakeholder, or personal pension. Your employer will not usually contribute to your private pension but your pension provider will claim tax relief from HM Revenue and Customs at the basic rate of 20 per cent and add it to your fund. If you are a higher rate taxpayer, you will have to claim the additional 20 per cent rebate - making a total of 40 per cent - through your annual tax return.