Higher rate taxpayers

When you invest money into a personal pension, the basic rate tax relief will give it an immediate boost, increasing every £80 to £100.

On top of this, as a higher rate taxpayer you can claim another £20 back on your end of year tax return. Money that goes back into your own pocket.

So, even before any growth, you've invested £100 into your pension at the cost of just £60. Other investments may take years to give such returns. With a pension they're guaranteed and upfront.

Please note, you get tax relief at the highest rate of tax you pay up to 100% of your annual earnings and subject to an annual allowance of £50,000. This information is based on our current understanding of taxation law and HM Revenue & Customs practice in the UK. The amount of tax relief you receive depends on your personal circumstances and may change.